WASHINGTON, January 28 - /EIN News/ While the EU struggles with crippling agricultural subsidies to its farmers and absorbing new members, European Commission President proposed a revolution for the energy sector that could cost EU citizens up to 15% more for their electricity.

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So far, Europe as a political body has been slow to endorse a continent-wide policy for switching to renewable sources of energy because some European nations have a distinct advantage over others. Sweden, for example, already gets 49% of its energy from renewable sources, while new members Bulgaria and Romania still have highly polluting economies. Barroso's plan is aimed at ironing out the differences by allocating carbon credits along national and industrial criteria so as not to disadvantage any one country in the EU.

The benefits of such a plan to the EU economy, Barroso argues, would well outweigh the costs of implementing such structural changes to the energy sector. Industry leaders have been slow to get on board, so Barroso and his supporters have launched a campaign touting the advantages to European industry if the plan is adopted.

Currently Europe imports most of its fuel from Russia and the Middle East. Recent political frictions between the suppliers and purchasers of energy have led many wealthy EU countries to accelerate investment in renewable energy. Recent editorials in leading newspapers attest to the fact that Europeans would prefer to keep their energy money at home while depriving rogue nations such as Iran of needed hard currency for its nuclear ambitions.

See also:

-- Latest Energy News - http://energy.einnews.com/
-- EU Energy News - http://energy.einnews.com/news/energy-eu
-- EU Electricity News - http://energy.einnews.com/news/electricity-eu
-- EU Natural Gas News - http://energy.einnews.com/news/natural-gas-eu
-- EU Crude Oil News - http://energy.einnews.com/news/crude-oil-eu
-- EU Oil Prices News - http://energy.einnews.com/news/oil-prices-eu
-- EU Alternative Energy News - http://energy.einnews.com/news/alternative-energy-eu

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