Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-21-Speech-2-109"

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"en.20090421.17.2-109"2
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"− Madam President, I would like to thank colleagues once again for their cooperation. I would also like to thank Bethan Roberts and René Tammist who have been a great help in preparing this report. This is my swan song after 15 years in the European Parliament, and I am delighted that we have made such a significant improvement in the energy markets on behalf of the European public. It is far from perfect but it is definitely a step forward. I think that the energy crisis will become more acute in future years, so getting the right market framework in place, and creating the right kind of incentives for the right kind of investment, is crucial. We need an estimated EUR 1 trillion worth of investment in the markets to stop the lights from going out in future. But there is a huge amount more to do. You know that there are 12 countries in the European Union where one company dominates 70% of the electricity market. What we have at the moment is the worst of both worlds. We think we have competition, but what we have is the massive power of very large companies dominating certain markets. It will require action on the part of national regulatory authorities and competition authorities to make sure that we do not continue in this way. The real challenge in future will be implementation. Let us not forget that there are many EU laws that already exist in the energy markets, and it is precisely because these laws were not being respected that the revision of this law needed to take place. Whether we need a fourth package or not will depend on the Commission ensuring implementation and good policing of these new laws by national regulatory authorities and competition authorities. So let us see a bit of action from the Commission, and also from the national regulatory authorities."@en1
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