European Union (EU) negotiators have reportedly agreed the text of new legislation aimed at promoting energy efficiency across the trading bloc.
According to Reuters, representatives from the European Commission, the European Parliament and the EU presidency settled on the terms of the proposals in the small hours of Thursday morning. The legislation is now set to go to the 27 member states for approval.
“We are changing the business model. The future business model of energy companies would also be energy efficiency service business. This is about a cultural business model change and that is why the fight is so brutal,” said Luxembourg Green MEP Claude Termes.
The EU presidency is currently held by Denmark, which has strongly emphasised its commitment to renewable energy. Danish negotiators are understood to be keen to see progress on the matter before the presidency is transferred to Cyprus later this month.
Earlier in the week, findings from the United Nations Environment Programme and the Renewable Energy Policy Network for the 21st Century revealed that green energy accounted for 16.7 per cent of global consumption in 2011.