Bloomberg News

EU Policy Is Discouraging Energy Investment, GDF’s Cirelli Says

November 16, 2011

Nov. 15 (Bloomberg) -- European Union regulations are creating an unstable investment climate that’s discouraging essential energy investments, according to GDF Suez SA.

There’s a “growing mismatch” between a European energy policy that’s pushing for expensive investments in renewable power and the ability of the industry to deliver, Jean-Francois Cirelli, vice chairman and president of GDF Suez, said today at the European Autumn Gas conference in Paris.

“Governments do not hesitate to take decisions that are not totally based on economic rationale,” he said. “European political risk has become a major concern to energy companies and investors and will clearly impede our ability to invest in Europe.”

--Editors: Rob Verdonck, Randall Hackley

To contact the reporter on this story: Ben Farey in Paris at bfarey@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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