Europe's electricity lobby

"Europe's electricity lobby has once again shown the ladies and gentlemen in Brussels who's the boss," Franz Schellhorn comments after yesterday's meeting of the EU energy council. "Following this victory in Brussels the power companies will be allowed to hold on to their de facto monopoly and thumb their noses at customers who want to change to another supplier. Why? It's simple. Virtually all Europe's power companies have majority state-ownership. And competition in a market full of state-owned companies is a contradiction in terms. The state doesn't want stiff competition to drive electricity prices down - thereby cutting the profits of 'its' energy companies. Their profits are the greatest money-making machines the state still has in its possession."

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