The European Parliament passed a draft regulation on 25 February allowing the European Commission to obtain more information about major energy projects planned in EU member states. The move was hailed as a step towards a more coordinated EU energy policy.
The regulation requires EU countries to notify the Commission every two years about investment projects concerning the building, modernisation and decommissioning of energy capacities.
The text covers projects related to oil, natural gas, electricity and biofuels, as well as carbon dioxide produced from these sources.
Under the draft plans, energy companies are obliged to report these investments and give details regarding capacities, location, timetable and the technologies used in the interests of security of supply, carbon capture systems or retrofitting mechanisms, as well as comments on delays in implementing the projects.
On the basis of the information provided, the Commission is expected to be in a better position to promote best practice and to establish greater transparency for market participants. To develop common views on these issues, the results of the analyses would be discussed with stakeholders and made available to the public, the text says. A review of the regulation is scheduled five years after its entry into force.
The regulation also contains provisions that sensitive information provided by the Commission would be protected. The information provided would be kept confidential, but the EU executive would be able to publish aggregated data, the adopted text says.