The European Union (EU) intends to increase the share of renewables in final energy consumption in order decrease greenhouse gas (GHG) emissions and to improve EU’s energy independence. Although the petrochemical industry supports this goal, it should be reached at the lowest possible cost to maintain the industry’s competitiveness on global markets.
The EU has agreed that renewable energies are to make up 20% of EU energy consumption by 2020. To achieve this target, the Commission has made a proposal for a Directive promoting energy from renewable sources.
The European chemical industry is one of the most energy-intensive industrial sectors and competes in global markets. The expected rise in energy prices in Europe due to the cost of support for renewable energy would disadvantage the EU chemical industry compared with global competitors.