- Client: European Parliament's Committee on Industry, Research and Energy (ITRE)
- Implementation period: January, 2014 - December, 2014 (Completed)
- Geographic coverage: European Union
Will the TTIP affect security of energy supply, internal markets and policy, or renewable energy sectors?
This study aimed to assess whether (and to what extent) European energy markets and manufacturing industries would be affected by the Transatlantic Trade and Investment Partnership (TTIP). The lack of transparency in the negotiations together with the uncertainties regarding the projected outcomes resulted in a large information gap surrounding the impacts of the TTIP. Therefore, the main purpose of this report was to fill this gap, in areas particularly relevant for the ITRE committee.
The key findings and recommendations of the report include:
- The impact of the TTIP is likely to be positive for most manufacturing industries, with an increase in GDP in the EU member states.
- However, TTIP is not likely to increase energy security in Europe, as these resources are restricted by factors that are decided independently of the TTIP. Yet, it might improve the EU’s security of energy supply through adding liquidity and competition to the natural gas market.
- The TTIP will not directly have a direct negative impact on either environmental or social legislation affecting the energy sector and manufacturing industry, but the study recommends the ITRE Committee to be aware of the potential for weakening of legislation implementation such as REACH and FQD.
- Regarding European jobs, the report advises pre-emptive action towards the sectors that are likely to decrease their output with consequent impacts on their workforce.
- Given that the TTIP does not change the fundamental competitiveness issues of the EU’s energy intensive industries, the report recommends a continued pursuit of the Europe 2020 targets with their focus on innovation, energy efficiency and adding high value to products.
- Finally, the report calls for a re-estimation of TTIP projections as soon as the details of the final agreement are clearer, in order to show what barriers are still in place and to give a more accurate assessment of the changes in GDP.