The Energy Council under the Cyprus Presidency took place in Brussels on 3 December 2012. The state of play on the safety of offshore oil and gas prospection, exploration and production activities dossier, an exchange of views on the European Council follow-up in the field of energy, the guidelines for trans-European energy infrastructure and international relations were on the agenda.
Energy Commissioner Günther H. Oettinger represented the European Commission. He presented the Internal energy market communication which was warmly welcomed by Member States. He stressed the need for a fully integrated market in view of the major investments in Europe's energy systems needed this decade. He explained that open and competitive markets have proven to be better than any other economic model in driving innovation and allocating resources efficiently, promoting investments and technology developments where they contribute most. He also added that the internal energy market slowly but surely started to bear fruit, for instance by keeping energy commodity prices in check. The wholesale prices for electricity have been growing at a lower rate than those of primary energy commodities such as crude oil, gas and coal. At consumer level there is now a wider choice between suppliers for gas and electricity.
Member States also adopted the Conclusions on Renewable energy .