in enacting the energy release scheme.
Italian foreign minister Antonio Tajani
is calling for a radical transformation
of Europe's energy markets to help the continent
ward off intense competition from abroad.
He proposes the creation of a single unified market
to help European industry compete globally.
Of course, the solution among the European Union
is to have only one energy market
because I think the competition
among the Europeans is a big mistake.
We need to be the strongest in the world
because now our competition is with America
With Russia, with China, with India
and with the new countries in South America and in Africa.
The stakes are high as Italian industry currently faces
wholesale power prices averaging EUR 150/MWh.
That's nearly 40% higher than last year.
For Tajani, internal competition is
weakening Europe's global position.
And of course, whilst the political vision is very clear,
experts warn that creating a single
European energy price market
faces substantial technical as well as practical hurdles
that won't be easily overcome.
Let's not forget we already have a single market,
a single energy market in Europe.
The issue is that we have grid constraints
and therefore a single price is hardly conceivable.
So, if a single European energy price market
isn't the answer, what alternatives exist to help
European industry retain competitiveness?
We need to change our energy mix in the long term
but certainly in the short term
I see mainly two, two slash three possibilities.
Number one, increasing the emphasis on PPAs
because PPAs have the benefit of aligning
the cost of electricity to the LCOE
[the levelised cost of electricity].
Second, it's important to continue investing
on the networks, on the grids
and third, I think in Italy
the Italian government did a great job
