On 24 October 2014 the European Council approved the 2030 Framework for Climate and Energy, proposed by the European Commission with objectives to be met by 2030:
Such an agreed EU policy framework on greenhouse gas emissions, renewables and energy efficiency should provide the necessary stability and predictability for its economic operators and confirm the EU’s role globally.
The European Council also recalled its goal to build an Energy Union aiming at affordable, secure and sustainable energy.
The EU's 2030 goals for climate and energy (video)
The EU already has a comprehensive set of energy and climate policies for the period up to 2020. But forecasts looking forward to 2050 suggest that current policies are not sufficient to bring about a sustainable, secure and competitive low-carbon economy and energy system.
This study into energy prices and costs will:
From 2008 to 2012 Europe has seen a significant rise in average retail prices for households and industry.
Yet over the same period, wholesale electricity prices fell by one-third and wholesale gas prices remained the same.
The study shows energy prices will keep rising in the short term – mainly due to rising fossil fuel prices and the need for investment in networks and new power generation.