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EU Commission Approves Single Energy Market Proposal

2024-12-22OANDAOANDA
The EU Commission has approved proposals to create a single European energy market. The Energy Union plan would give the Commission more influence in the negotiation of gas supply contracts. It is partly designed to reduce Europe’s dependence on Russian gas, at a time of tension over the conflict in eastern Ukraine. The proposals still […]

The EU Commission has approved proposals to create a single European energy market.
The Energy Union plan would give the Commission more influence in the negotiation of gas supply contracts.

It is partly designed to reduce Europe’s dependence on Russian gas, at a time of tension over the conflict in eastern Ukraine.

The proposals still need to be approved by member states and the European Parliament.
The Commission says they will give customers more choice, bring down prices and cut down on the use of fossil fuels.

“This is about Europe acting together, for the long term,” said Commission President Jean-Claude Juncker.

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