European electricity companies will strive to achieve a carbon neutral power sup ...

European electricity companies will strive to achieve a carbon neutral power supply by 2050, work for an integrated European electricity market that will deliver power cost-efficiently and reliably, and promote energy efficiency. So says a declaration handed to EU Energy Commissioner, Andris Piebalgs, signed by 60 electricity Chief Executives. The CEOs, from power companies in 27 countries which jointly produce 2,500 TWh of electricity per year (70% of total European power generation) signed the declaration in Brussels when meeting to discuss energy issues on the eve of a European Council meeting on economic, energy and climate change issues. They called on the commissioner and his fellow European policymakers to ensure a framework that enables the realisation of these objectives. The declaration stresses that, in order to achieve carbon neutrality and ensure supply security, electricity companies will require access to a broad range of power generation options including carbon capture and storage, combined heat and power, nuclear and renewables. They called for a simplification of the licensing procedures for new build, as well as a stable, coherent and market-oriented regulatory framework, and access to liquid capital markets.