Statement by Harald Wögerbauer, Member of the Court of Auditors, on the EU Energy Efficiency
On 14 January 2013, Harald Wögerbauer, Member of the Court of Auditors, made a statement on Cost-effectiveness of Cohesion Policy Investments in Energy Efficiency, in Brussels.
The cost of increased energy consumption, the depletion of fossil fuel reserves and the effect of human activities on global climate change are drivers of recent energy efficiency policies. Since 2000, the European Union, through its Cohesion Policy funds, spent almost €5 billion for co-financing energy efficiency measures in the Member States. The European Commission and the Member States are both responsible for the sound financial management of these funds.
The Court of Auditors has assessed whether Cohesion Policy investments in energy efficiency were cost-effective.
The Court found that the projects selected by Member State authorities for financing did not have rational objectives in terms of cost-effectiveness, i.e. cost per unit of energy saved. Their objectives were to save energy and improve comfort, but they were not selected for financing on the basis of their potential to produce financial benefits through energy savings, but rather that the buildings were typically regarded as being "ready" for funding if they were in need of refurbishment and their documentation complied with the requirements. PHOTOSHOTLIST