The Power of a European Energy Union
European Commission President Jean-Claude Juncker is right to make a European energy union one of his top priorities. Done properly, a more cohesive energy policy could achieve three strategic objectives simultaneously: help meet climate targets, provide much-needed economic stimulus, and protect Europe from supply shocks.
DUBLIN – One of the top priorities established by European Commission President Jean-Claude Juncker ahead of his election last summer was the creation of a European energy union. He was right to do so. Done properly, a more cohesive energy policy could achieve three strategic objectives simultaneously.
By coordinating research and investment, encouraging conservation, and integrating energy markets, an energy union would help fight climate change, provide Europe with a much needed economic stimulus, and protect the continent from supply shocks, such as those caused by the crises in North Africa and Ukraine.
Of course, the European Union's ability to act is dependent on the willingness of its member states; and, though some of the continent's leaders have championed the initiative, others have proved less enthusiastic. A crucial test of their collective resolve will be whether they are willing to support key infrastructure projects that deliver on all three objectives.