Europe's energy price headache becoming a migraine - IEA | Reuters:
"* EU should focus on efficiency, single market, new sources
* EU also needs to renegotiate gas contracts
* Competitiveness headache likely to get worse
By Barbara Lewis
BRUSSELS, Nov 29 (Reuters) - Europe's energy prices will stay up to three times higher than in the United States for the next 20 years, unless the region can develop domestic supplies and increase efficiency, the International Energy Agency's chief economist said.
Concern among EU nations about the impact of energy costs on their already suffering industry is intensifying, with some member states debating a freeze on prices and stripping away renewable subsidies.
"There may be a narrowing of the gap, but if no new policies are put in place, Europe will still have two to three times higher gas prices than the United States for 20 years," Fatih Birol told a Brussels meeting."
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