The European Commission has sent an unprecedentedly clear warning to the EU member states that without strong new policy initiatives the EU's existing energy and climate strategy is unlikely to achieve the 2020 targets, and it is wholly inadequate to the longer term challenges concerning energy and climate-change objectives. To deal with this, the Commission is proposing to spend €1 trillion over the next decade on infrastructure, new technologies and electricity storage, as part of a new energy strategy to deliver on the EU's 2020 energy and climate goals.
'In the next decade, investment in energy, both to replace existing resources and in order to meet increasing energy requirements, will oblige European economies to arbitrate among energy products which, given the inertia of energy systems, will condition the next 30 years,' it says.
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