Energy, EU – Baltic States, Legislation, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 06:13

Commissioner Andriukaitis welcomes EU's strategy for Energy Union

BC, Vilnius, 25.02.2015.Print version
On 25 February 2015, the European Commission (EC) has announced the Energy Union's strategy which seeks to reduce the dependence of member-states on single suppliers and fully relying on their neighbours. According to Lithuanian Commissioner Vytenis Povilas Andriukaitis, the Baltic region plays a very important role in the strategy as the plan provides for synchronization of the Baltic and EU power systems, informs LETA/ELTA.

EC notes that the EU is the largest energy importer in the world, importing 53% of its energy, at an annual cost of around EUR 400 billion.

 

Currently, 12 member-states, including Lithuania, do not meet the EU's minimum interconnection target – that at least 10% of installed electricity production capacity be able to "cross borders", i.e. to be able to be bought or sold in other member-states. 75% of the EU's housing stock is energy inefficient; 94% of transport relies on oil products, of which 90% is imported.

 

"Wholesale electricity prices in Europe are 30% higher, and wholesale gas prices over 100% higher than in the US," the EC notes.

 

Welcoming the approval of the Energy Union's strategy, Commissioner Andriukaitis said that Lithuania and the entire Baltic Sea region have a very important rule in the strategy.

 

"European Commission highlights that it will help Lithuania to terminate its energy isolation and will offer a detailed action plan how to solve it technically efficiently," Commissioner Andriukaitis said.






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