Westinghouse applauded the European Commission's Energy Union initiative on Wednesday, calling it a significant step for policy integration that faces stiff challenges.
The European Commission, which is under new leadership under President Jean-Claude Juncker, said that a key goal was to integrate 28 individual energy policies into one cohesive system. Regulatory unification exists in theory, but is not effective, the commission said.
“Today the European Union has energy rules set at the European level, but in practice it was 28 regulatory frameworks. This cannot continue,” the commission said in a statement.
With a unified set of regulations, it is envisioned that the European Union's members will benefit through increased energy independence, especially necessary, the commission said, with a major natural gas supplier, Russia, embroiled in a violent conflict in Ukraine, a country through which passes a significant portion of its pipelines.
“With 790 Mtoe (one million tonnes of oil equivalent), the European Union today produces nearly half of its own consumption in the EU. What is more, 53 percent of this energy comes from low carbon renewable and nuclear sources, providing the basis of Europe’s energy security. Across the 28 member states, hydro, wind and solar energy capacity, along with 131 nuclear reactors, produce 24 percent and 29 percent respectively of the EU’s domestic energy – with no CO2 emissions. This is a solid basis for Europe’s transition to a low-carbon society,” Westinghouse said, seizing the opportunity to insert a solution into the mix.
Westinghouse said strengths in Europe include a grid that is old, but substantial. While it requires upgrades, “the fact is we are not starting from zero,” Westinghouse said.
The initiative also seeks to balance cost factors with environmental concerns, including a target of 30 percent of energy from renewable sources.
Westinghouse also pointed out that Europe was home to many sophisticated players in the energy field – companies that are willing to both compete and cooperate when the time comes. “For example, Westinghouse’s nuclear fuel facility in Sweden now also supplies fuel to an increasing number of nuclear power plants in Ukraine. It’s just one example of how Europeans are helping an important neighboring country to diversify its energy supplies and thereby contribute to greater energy security,” the company said in a statement.