Brussels Seeks Power To Vet Non-EU Energy Entrants

The European Commission asked EU member states on Wednesday to give it the power to vet and block attempts by non-EU companies to take big stakes or control of European gas and electricity networks.

In a move aimed at potential entrants such as Russian gas monopoly Gazprom and Algeria's Sonatrach, the European Union executive proposed a safeguard clause making such purchases conditional on compliance with European policies.

"The package contains safeguards to ensure that in the event that companies from third countries wish to acquire a significant interest or even control over an EU network, they will have to demonstrably and unequivocally comply with the same unbundling requirements as EU companies do," it said.

"The Commission can intervene where a purchaser cannot demonstrate both its direct and indirect independence from supply and generation activities," a Commission statement said.