In adopting a joint resolution on getting a grip on energy prices, MEPs emphasise, that unless there is a global concerted shift in energy policy and consumption, the energy demand will continue to grow in the coming decades. MEPs underline the necessity to take measures that will enable the EU economy to maintain its competitiveness and to adapt to the new energy price environment.

The House expresses its concern at the increase in energy prices, notably because of its negative effect on the world economy and consumers, which is also hampering the attainment of the EU's Lisbon Strategy objectives.

The House calls for strong political commitment to take concrete measures towards cutting energy demand, to promote renewables and energy efficiency, and to pursue diversification of energy supply and reduce dependence on imported fossil fuels. The House considers this shift to be the most appropriate response to higher energy prices, to increase stability in the energy markets, to deliver long-term cost benefits to consumers and to meet the objectives of the UN Framework Convention on Climate Change and its related Kyoto Protocol.

Consumer Energy Charter

MEPs call on the Commission to ensure that the proposed Consumer Charter for Energy clearly sets out consumers' rights. MEPs call on the national regulatory authorities to use the powers at their disposal to help consumers.

Oil and gas prices

Parliament calls on the Commission to investigate the linkage between oil and gas prices in long-term gas contracts and to come up with an adequate policy response.

MEPs underline the importance of adequate fiscal policies, as a means of reducing dependence on fossil fuels, addressing climate change and creating incentives for investments in energy-efficiency, renewable energy and environmentally friendly products.

Speak with one voice

MEPs stress that the EU should speak with one voice as regards energy policy. Parliament reiterates the importance of an EU common energy policy and commitment to the European Neighbourhood Policy. MEPs believe in this respect that the EU should take the lead in the energy dialogue with key oil and gas supply countries. MEPs welcome the idea of a high-level summit between oil and gas consuming and producing countries, aimed at greater stability of prices, more predictability in supplies and payment for sales in euros.

Parliament encourages EU companies to be more proactive, by making further investments, and to take the lead in new technology know-how and engineering skills in order to remain key partners with the main oil producing countries. The House notes that investments are particularly needed to develop the refining and exploration capabilities in order to cope with increasing demand.