European energy market needs investment from all governments

A mix will be essential to the future of energy but only if governments can make decisions sooner rather than later. That was the message from the European Future Energy […]

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By Tom Gibson

A mix will be essential to the future of energy but only if governments can make decisions sooner rather than later. That was the message from the European Future Energy Forum. Debating the future of energy across the whole of Europe key figures from governments, energy firms, financiers and renewable companies were mostly united on the fundamentals necessary for the security of energy

The general consensus was an acceptance of nuclear energy. Delegates heard not that to guarantee our future we need not just in a mix of conventional sources but the correct market conditions in which renewable energy businesses could operate, but most importantly, compete.

Michael Lewis, a Managing Director of Climate and Renewables at E-ON said: “Offshore wind has stepped up to a new position in the European Energy Supply. In the last two years we’ve really seen a step-up in the capability of the infrastructure and in the investors.”

David Nussbaum, Chief Executive Officer of WWF-UK added:”The ambitions for renewable energy are extremely strong, both in the UK and in Europe. What we’ve heard is that there is plenty of money, but what we need is governments to put in the frameworks in which that money will be forthcoming.”

Lykke Friis, the Danish Minister for Climate and Energy was very positive about the future saying the signals now were for businesses to get independent of fossil fuels.

Lord Howell laid out Westminster’s ideas before tomorrow’s spending review: “We are putting the emphasis on a massive, long term investment commitment to transform this nation and indeed all our European friends. We are certainly going ahead with a nuclear programme.”

But not all believed yesterday’s statement on nuclear would be the solution to cleaner energy. John Sauven, Executive Director at Greenpeace said: “The reason nuclear never gets off the ground is because it’s so expensive. The problem is the costs of waste will approach over £100 bn soon.”