Brussels, 09/10/2014 (Agence Europe) - A meagre €116 billion - this is the revenue generated in 2011 by the eight biggest European electricity groups from the import of fossil fuels from outside the European Economic Area (EEA), according to a report published by environmental NGO Greenpeace on Thursday 9 October. This is why the energy giants want to continue to support this polluting energy despite the political, environmental and financial cost for Europe, says Greenpeace.
The Greenpeace report, “Tied down: why Europe's energy giants want to keep us hooked on imported fossil fuels”, shows that the eight biggest electricity companies in the EU - which depend on imports for a third of their revenue from sales of power and gas - generated €116 billion in revenue on the basis of gas and coal imported from outside the EEA. Among them, German energy company E.ON (€36 billion), French company GDF Suez (€23 million) and Italy's ENEL (€18 billion) generated the greatest revenue from their imports. “These businesses depend on maintaining Europe's geopolitical vulnerability”, Greenpeace criticises. Every year, the EU spends €400 billion outside its borders to buy 53% of the energy it consumes.
Greenpeace accuses the Magritte Group - to which six of these eight companies belong - of “opposing progressive energy policies” and of undermining the 2030 framework for the EU's energy and climate policies. European leaders are due to make an agreement on the 2030 framework at the European Council on 23-24 October. “Some power companies, such as EnBW, SSE, Dong and Verbund, are in favour of more efficiency and renewable energy. Others, like the Magritte Group, reject any targets to increase the share of renewables and reduce energy consumption by 2030, although these policies would also help Europe tackle the global threat of climate change”, Greenpeace deplores.
“Companies whose business depends on importing fossil fuels from politically volatile countries such as Russia and Algeria make poor advisers on how to reduce Europe's dependence on energy imports. We need our leaders to back strong targets to boost renewables and energy savings, the best form of energy security”, Greenpeace underlines, calling on the European Council to support the objectives of a 45% share of renewables, 40% energy savings and a 55% cut in domestic carbon emissions in the energy/climate framework for 2030. (EH)