Reuters: EU Seeks to Speed Up Energy Pipes, Grids

As part of preparations for the first EU budget to include energy spending, the draft indicates priorities for allocating 9.1 billion euros ($12.4 billion) set aside for 2014-2020 to improve power and gas pipelines and networks.

Although less than one percent of the EU's budget, the spending could help to attract further funds from the private sector and national governments and indicates the rising importance of EU energy policy.

The draft proposals include creating a "European coordinator" to help accelerate projects of EU-wide importance if they encounter "significant delays or implementation difficulties."

In addition, the permit-granting process for projects -- which at the moment can take a decade -- should not take more than three years.

To read full article, visit Reuters at: http://www.reuters.com/article/2011/10/11/us-energy-eu-budget-idUSTRE79A...

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