Sources say that EU is targeting energy laws to reduce red tape.
Sources familiar with the matter said that the European Commission is considering changes in EU energy laws to reduce the regulatory burden on struggling industries as part of its next set of proposals.
Brussels has started a campaign to eliminate layers of bureaucracy, which European businesses claim puts them at a competitive disadvantage with China and the United States where the Trump Administration is aggressively rollingback regulation.
Five sources familiar with the plans revealed that the Commission, after publishing a "simplification-omnibus" proposal last month to reduce sustainability reporting requirements, is now looking at ways to simplify EU policies on energy.
Discussions are still in the early stages, but they could be part of a package that will reduce the regulatory burden on small and midcap companies by April. Two sources, however, said that this package was expected to be postponed until May.
Three sources stated that the EU directive on energy efficiency was being evaluated.
The directive establishes binding targets to reduce the energy consumption of the EU. The directive requires that companies audit their energy usage, and large firms put into place plans to manage consumption.
Sources said that the Commission was also considering simplifying the Renewable Energy Law, which is a key policy of the EU on climate change and sets out binding targets for the countries to increase their use of renewable energies.
The spokesperson for the European Commission declined to comment whether or not the next omnibus energy package will target Europe's rules.
Industries are strongly in favor of reducing red tape. They complain that regulations drain resources and competetiveness, and divert funds from innovation.
Some investors, lawmakers on the left, and activists have criticised the plans, claiming that the first round of omnibus proposals will undermine corporate accountability, and create an unsteady investment environment through the reversal of recently agreed laws. (Reporting and editing by Kirsty Donovan; Additional reporting by Julia Payne)
(source: Reuters)
