Energy market initiatives to be presented

On Nov. 4-5 in Vilnius, at the high level conference ‘Completing the Internal Energy Market: Building an Integrated European Energy Network,’ a list of Projects of Common Interest  will be presented by the European Commission, reports ELTA.

The list aims to ensure the implementation of energy infrastructure projects considered necessary for the EU internal market.

“The implementation of EU Projects of Common Interest will undoubtedly contribute to the successful development of EU energy infrastructure. It is an important intermediate step towards the EU internal energy market, which should ensure proper conditions for economic growth and the competitiveness of Europe,” said Lithuanian Minister of Energy, Jaroslav Neverovich.

The EU internal energy market with the developed infrastructure will allow EU countries to use alternative sources of energy, ensuring its flow between EU countries. It will help reduce the influence of monopolies in the energy sector. In this way, competitive energy prices for consumers and businesses will be ensured.

The list  includes energy infrastructure projects of regional importance. On the project list, the Baltic Energy Market Interconnection Plan (BEMIP) is highlighted as one of the regional initiatives. Others include six BEMIP energy infrastructure projects that are implemented with the involvement of Lithuania.

The implementation of these projects will help Lithuania break free from its current energy isolation, and become a full-fledged member of the EU integrated energy network.

The conference will bring together high-level guests, including the member states’ governments, members of the European Economic Area and the Energy Community, EU institutions, financial institutions, regulators and project promoters.

Keynote addresses will be delivered by Gunther Oettinger, European Commissioner for Energy, Jaroslav Neverovich, Minister of Energy of Lithuania, Jerzy Buzek, member of the European Parliament, and Fatih Birol, chief economist at the International Energy Agency. Participants will be welcomed by Dalia Grybauskaite, President of Lithuania.