9 utility bosses say solar and wind policies threaten EU energy security.

FT: “Nine of Europe’s biggest utilities have joined forces to warn that the EU’s energy policies are putting the continent’s power supplies at risk. Gérard Mestrallet, chief executive of  GDF Suez and Paolo Scaroni, head of Italian oil group  Eni, will present proposals for reforming the system at a European Parliament meeting on Tuesday.”
“They will say that, partly as a result of failed EU policies, Europe’s energy security is no longer guaranteed, carbon emissions are on the rise, investments in the sector are not happening and fuel bills are rising.
Mr Mestrallet said one of the biggest problems was overgenerous renewable energy subsidies that had pushed up costs for energy consumers and now needed to be cut: “We have to reduce the speed at which Europe is building new wind farms and solar panels. At the moment, it is not sustainable.”
“The seven others: Enel, Eon, RWE, GasTerra, Iberdrola, Gas Natural, and Vattenfall. ….The nine utility companies – in line with the UK government and some others – do not favour another binding renewable energy target.”