Oct 19, 2006, 17:27 GMT
Brussels - Europe could save some 100 billion euros (125 billion dollars) per year if countries slashed energy waste by the year 2020 by one fifth, the European Commission said Thursday.
Reflecting growing European Union concerns about the bloc's dependance on imported fuel, the commission presented 75 new measures aimed at curbing Europe's rising energy consumption.
The plan will be considered on Friday by EU leaders at a meeting in Finland.
Proposed initiatives include stricter energy standards for electrical goods and appliances, more fuel efficient cars and a low- energy building strategy.
'Europe wastes at least 20 per cent of the energy it uses,' said said EU energy commissioner Andre Piebalgs.
'Energy efficiency is crucial for Europe,' he stressed, adding: 'By saving energy, Europe will address climate change, as well as its rising consumption and its dependency on fossil fuels imported from outside the (European) Union's borders.'
The plan proposes to force car makers to cap CO2 emissions at 120 grammes per kilometre and make national car taxation dependent on vehicle efficiency.
It also calls for offering incentives such as tax credits to companies who step up the energy efficiency of their products.
The new measures would also impose mandatory standards on 14 groups of household products and see goods labelled with eco- credential stickers.
Piebalgs said that starting to save energy now could avoid some 780 million tons of carbon dioxide gas (CO2) which is seen as the main cause for global warming.
Transport alone eats up nearly 20 per cent of total EU energy consumption. With 98 per cent of the transport market depending on oil the sector accounts for one-fourth of CO2 emissions in the bloc.
Buildings use 40 per cent of the energy used in the EU because of inefficient heating, cooling and lighting systems.
'Room for manoeuvre on the energy side is still limited,' the EU executive acknowledged, arguing that renewable energy was not developed enough to replace oil and gas sufficiently.
Citizens in an average EU household could save up to 1,000 euros annually by changing their behaviour, the commission said.
Basic insulation measures could save 200 euros per year while replacing an old fridge with a high-efficiency model would drive down the annual energy bill by 40 euros.
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