EU speeds up creation of common energy market

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The political conflict with Russia because of the Ukraine conflict gives a boost to European Union (EU) plans for the creation of a common energy market. The main stated reasons for creating a common energy market are the benefits that would go along with a broad shift to a low-carbon economy (renewables), and the need for greater energy security for the European block.

Representatives from the energy and environmental ministries of the EU’s 28 states are working together to come to a compromise before a planned summit on October 23–24, 2014. Then leaders must reach consensus on policy plans/goals for the year 2030. The axis of disagreement between the various members in this case is on the issue(s) of immediate costs and need for acceleration of change.

EU renewable energy, Sweden, Bulgaria, Estonia

Sweden is also one of the first three EU countries to surpass its renewable energy goals for 2020. Bulgaria, and Estonia also met their renewable energy goals 8 years ahead of schedule, fueled by substantial growth in wind power. Biofuels also chipped in a fairly large assist for Estonia.

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