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EU should participate in funding energy projects, Hungarian development minister says

The European Union should fund development of its energy infrastructure, not relying exclusively on the market to do this, Hungarian National Development Minister Tamas Fellegi told the Hungarian Presidency website before a meeting of the energy ministers in Brussels on Monday.

Financing the development of energy infrastructure is a delicate issue, Fellegi said. Some member states, mainly those from Western Europe, think that the financing should come from the market and industry, while others, mainly new member states, see a need to involve EU money as well, he said.

Fellegi said special attention should be paid to establishing a transparent and unbiased tariff system and to properly distribute the investment costs of cross-border projects.

"As the European Council stressed on February 4, limited public financing will be available only for projects which are justified from the aspect of security of supply or solidarity, but do not attract sufficient market finance," Fellegi said.

At the energy ministers' Monday meeting the European Commission will present a document on the progress member states made in meeting the renewable energy targets set for 2020.