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30 November 2008 - EU countries and the European Parliament are "tantalisingly close" to a compromise agreeement on legislation to promote renewable energy, but the French EU Presidency is stalling the negotiations, according to the European Parliament's rapporteur on the dossier, Green MEP Claude Turmes.
Turmes, who is responsible for guiding the proposal through Parliament, said while much progress had been made in 'trialogue' negotiations between the European Commission, Parliament and the French Presidency, Paris was "refusing to engage in meaningful negotiation" of the main outstanding issues.
These include a safeguard mechanism for the European transport sector and a revision clause for 2014, according to Turmes.
The Union is aiming to achieve a 20 per cent share of renewables in the EU's energy mix by 2020 (see EurActiv LinksDossier). But one of the most controversial French ideas is a proposal to review efforts torward the 20 per cent target in 2014.
The Parliament is vigorously opposed to this amid concerns that it would undermine investor certainty in the sector.
MEPs are also worried that a proposal on flexibility, whereby member states could count investment in renewable energy production in other countries towards their own targets, would create a virtual market for greener energy certificates instead of encouraging physical cross-border trade.
Commenting on the review clause, the European Renewable Energy Council (EREC) said that to ensure investment in renewables, a stable and predictable framework would be needed over the next twelve years, with a revision in 2014 increasing the investment risk factor.
"If the target is to be achieved in the most cost-efficient way, then investor confidence must be secured. We know that many private investors around the globe are waiting for this directive to be adopted in order to start investing the hundreds of billions of euro that are needed to make Europe more energy-independent, competitive and sustainable," the EREC said.
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