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EU energy market ought to be integrated, ministry says before summit

The European Union's energy market ought to be integrated, but this will require investments and further regulation, Hungary's National Development Ministry said in a statement announcing a summit of energy leaders in Hungary in February as part of the country's EU presidency.

In Hungary's view, an integrated internal energy market ought to be a pillar of European energy policy, but this will require infrastructure developments and further regulatory measures, the ministry said.

Participants at the meeting, to take place on February 4, will discuss steps necessary to create a unified European energy market. Energy efficiency and questions of energy suppliers outside of the internal market will also be on the agenda.

Hungary's EU presidency aims to give a political directive to the speedy implementation of infrastructure investments that are in the interest of all of Europe as well as the dismantling of national regulations that still prove technical obstacles, the ministry said.

The energy summit could give a boost to future developments in green technology and provide a new, more efficient framework for dependable, transparent and well-regulated cooperation with Europe's external energy suppliers and the countries over which this energy is delivered, the ministry said. (MTI – Econews)