The Chair of the European Round Table for Industry (ERT), Sir Jonathan Symonds CBE, warned on Tuesday at the Forum Europa in Brussels that “energy insecurity” is “the most significant risk” currently facing businesses on the continent.
During his speech at this event organised by New Economy Forum in the EU capital, Symonds pointed out that energy is a major cause for concern for companies in the current geopolitical climate and must be treated as a priority issue to be resolved by EU institutions.
“No industrial strategy will survive if energy prices are not competitive,” said the head of the ERT, a lobby group comprising sixty major European multinationals.
This association is calling for investment in energy networks and connectivity, as well as “binding rather than aspirational targets”, to tackle the current situation of high prices and alleviate the problems facing the sector due to these costs.
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