10 Feb 2016
EUROPEAN COMMISSION DAILY NEWS – 10 FEBRUARYBrussels Daily
EUROSTAT: Share of renewables in energy consumption in the EU rose further to 16% in 2014
In 2014, the share of energy from renewable sources in gross final consumption of energy reached 16.0% in the European Union (EU), almost double that of 2004 (8.5%), the first year for which the data is available. The share of renewables in gross final consumption of energy is one of the headline indicators of the Europe 2020 strategy. The target to be reached by 2020 for the EU is a share of 20% energy from renewable sources in gross final consumption of energy. However, renewables will continue to play a key role in helping the EU meet its energy needs beyond 2020. For this reason, Member States have already agreed on a new EU renewable energy target of at least 27% by 2030. A Eurostat press release is available here.
Commission extends by one year the application date for the MiFID II package
The European Commission has today proposed granting national competent authorities and market participants one additional year to comply with the rules set out in the revised Markets in Financial Instruments Directive, known as MiFID II. The new deadline is 3 January 2018. The reason for the extension lies in the complex technical infrastructure that needs to be set up for the MiFID II package to work effectively. The European Securities and Markets Authority (ESMA) has to collect data from about 300 trading venues on about 15 million financial instruments. To achieve this result, ESMA must work closely with national competent authorities and the trading venues themselves. Jonathan Hill, Commissioner for Financial Services, Financial Stability and Capital Markets Union said: “Given the complexity of the technical challenges highlighted by ESMA, it makes sense to extend the deadline for MiFID II. We will therefore give people another year to prepare properly and make the necessary changes to their systems. Meanwhile, we are pressing ahead with the level II legislation to implement MiFID II and expect to announce those measures shortly.” A press release is available here.