Major European Union power companies pledged Wednesday to become carbon neutral by 2050.
Eurelectric, a trade organization representing companies including E.On AG (EON.L), Electricite de France SA, RWE AG (RWE3.BE) and Enel (ENEL.MI), said in a declaration it would reduce carbon dioxide emissions and offset those that can’t avoided.
The declaration, which was signed by 60 chief executives, also stated
the companies would work for an integrated European electricity market
and promote energy-efficiency to address the challenge of climate
challenge.
The CEOs, meeting in Brussels to discuss key energy issues,
explained to EU Energy Commissioner Mr Piebalgs their view that to
achieve this means deploying all economic low-carbon power generation
options, developing a single European market through progressive
regional integration, and engaging with customers and regulators to
ensure take-up of energy-efficient electro-technologies. They called on
the Commissioner and his fellow European policymakers to simplify
regulatory procedures to help obtain these objectives, and also to
provide strong support for renewable energy, nuclear power and carbon
capture technologies.
Eurelectric said the industry needs EUR 1.8 trillion to replace aging
power plants, develop power grids and achieve environmental targets.
Eurelectric member companies generate 70% of the European Union’s power.
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