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Oil



 

Internal Market

Reinforcement of the security of the oil and gas supplies in the framework of the energy internal market

A fully competitive internal energy market for the EU, that will allow citizens and businesses to enjoy all the benefits of security of supply and lower prices, is central to European energy policy.

Liberalised and competitive markets help security of supply by sending the right investment signals to industry participants. But for this competition to work effectively, the market needs to be transparent and predictable.

The European Commission takes responsibility for the implementation of European legislation on security stocks of oil and market observation. It also considers new initiatives that may be taken to help the completion of the internal market for energy.

Oil is a global market, but ensuring that all Europeans have access to energy at reasonable prices requires action at a European level. Promoting equitable access to new and existing infrastructure, enhancing market transparency, facilitating access to additional oil supplies and coordinating effective response in the event of supply disruptions will play a key role in securing available energy at affordable prices. It is crucial for Europe that the internal energy market stimulates substantial investments in all areas of the energy sector.

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last update: 19-06-2008