No sooner has energy become Europe's hottest topic— barely a week goes by without somebody trying to create a national energy champion somewhere-than, lo and behold, up pops the European Commission with a sparky new energy policy. As a rule of thumb, it is best to assume that the eu over-regulates everything, so any expansion of its role or powers should be resisted. But the energy market, in which the commission is proposing, in a green (consultative) paper published this week, to extend its influence, may just be an exception. Not, however, for the reasons that have put energy on the front pages. Attempts to marry utilities in France, Germany and Spain may be dubious or sensible business propositions, but they are matters for the competition authorities, not for energy policymakers.
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