EU to Focus on Impact of Energy Consumption

Offshore wind power
Offshore wind power

The European Union wants to know more about energy consumption, particularly as its affects individuals who live within the region. Energy costs have risen relentlessly for most of the past several years, so these costs likely hurt consumer spending. Bloomberg reports on the call for a study of energy costs:

European Union leaders will call for a study of energy prices and costs facing households and energy-intensive industries, according to draft conclusions of their May 22 summit.

"The impact of high energy prices and costs must be addressed," according to the draft, dated May 13 and obtained by Bloomberg News. The draft says the European Commission will present their analysis of energy-price "composition and drivers" before the end of 2013 for talks in February 2014.

The 27-nation bloc's leaders also will call for EU and national measures to boost financing opportunities throughout the economy, according to the draft. It specifies trying to make more use of the European Investment Bank, in particular for energy and resource-efficiency projects.

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