EU unveils plans for historic single energy market

Brussels

THE EU unveiled plans on Wednesday for a continent-wide single energy market to reduce its uneasy reliance on Russian supplies and cut a massive annual import bill of some 400 billion euros (S$612 billion).

The proposals by the European Commission, the executive body of the 28-nation bloc, are timely as Russia once again threatens to cut gas deliveries to Ukraine, putting onward supply to Europe at risk.