The European Commission in March 2006 has presented a Green Paper stating that Europe’s energy policy should have three main objectives:

Sustainability: developing competitive renewable sources of energy and other low carbon energy sources and carriers, particularly alternative transport fuels, curbing energy demand within Europe, and leading global efforts halt climate change and improve local air quality.

Competitiveness: ensuring that energy market opening brings benefits to consumers and to the economy as a whole, while stimulating investment in clean energy production and energy efficiency, mitigating the impact of higher international energy prices on the EU economy and its citizens and keeping Europe at the cutting edge of energy technologies.

Security of supply: tackling the EU’s rising dependence on imported energy thought an integrated approach – reducing demand, diversifying the EU’s energy mix with greater use of competitive indigenous and renewable energy, and diversifying sources and routes of supply of imported energy, creating the framework which will stimulate adequate investments to meet growing energy demand, better equipping the EU to cope with emergences, improving the conditions for European companies seeking access to global resources, and making sure that all citizens and business have access to energy.

To meet these three objectives the Green Paper puts forward a number of concrete proposals – six priority areas, where action is necessary:

• The EU needs to complete the internal gas and electricity markets.
• The EU needs to ensure that its internal energy market guarantees security of supply and solidarity between Member States.
• The Community needs a real Community – wide debate on the different energy sources, including costs and contributions to climate change, to enable us to be sure that, overall, the EU’s energy mix pursues the objectives of security of supply, competitiveness and sustainable development.
• Europe needs to deal with the challenges of climate change in a manner compatible with its Lisbon objectives.
• A strategic energy technology plan, making best use of Europe’s resources, building on European technology platforms and with the option of joint technology initiatives or joint undertakings to develop leading markets for energy innovation.
• A common external energy policy.

Latvia and other Baltic states are among the fastest growing economies in the European Union. With such exceptional economic growth comes the need to address increased energy consumption, energy alternatives, and security. While energy costs in Latvia, Lithuania and Estonia are low by present EU standards, they may increase substantially in the next five years. In addition, proposed mandates by the EU world require all member countries to meet binding targets for renewable energy and greenhouse gas emissions.

To address the rapid increase in consumption needs, rising energy costs, and a shifting regulatory environment, Baltic Economic Forum in co – operation with the US Embassy in Latvia with the support of The Government of Latvia arranges Baltic Regional Energy Forum to discuss the future of energy in the Baltic region in the context of new EU energy strategy. The aim of the forum is to promote original, forward – looking discussion on the energy – related challenges facing the Baltic region and to provide practical business solutions for governments and companies to implement energy saving practices and technologies. The forum will serve as gathering point for an exchange of information and ideas between government officials, consumers, suppliers, and technology providers from throughout the region. It will encourage policy makers to think strategically and be forward leaning on supplying energy to the Baltic region’s growing economies. Such vision entails not only securing energy supplies, but also focus on new energy sources and conservation.

Forum language: English

LBS International Conferences is the Representative of the Organizing Committee