EU competition ministers discussed cutting EU electricity costs and funding for growing companies at a meeting in Dublin today.
EU industrial electricity costs remain structurally higher than fossil fuels, sometimes two to three times higher than those faced by competitors in the US and China.
Ministers discussed how that gap can be reduced, decarbonisation and electrification.
The politicians also held talks on how to tackle barriers to trade in an effort to strengthen the single market.
They discussed better coordination between member states and the European Commission, and tighter enforcement actions when rules are broken.
Also on the agenda was how to help companies access funds from institutional investors amid concerns the EU isn’t sufficiently competitive.
EU countries, including Ireland, are introducing national savings instruments as part of the trading bloc’s Savings and Investment Union.
The initiative is designed to allow growing companies access funds which have been saved by consumers to allow firms access the funds to aid expansion.
The meeting of EU ministers began yesterday with a visit to the Guinness Store House and an official dinner.
The first session of today’s meetings were chaired by Ireland’s Enterprise Minister Peter Burke as Ireland holds the EU Presidency until the end of this year.
