Development of trans-European networks in the energy sector

The Council's common position basically follows the approach taken by the Commission and Parliament on the basis of the amended proposal. The main amendments incorporated in the common position relate to the following points: - the need to adopt a common energy strategy which meets the objectives of the Union, including objectives in relation to the liberalization of the energy market; - the fact that developing trans-European networks in the energy sector should help to reduce the cost of energy supplies and foster growth, competitiveness and employment; - the conditions of eligibility of projects: when examining projects of common interest, feasibility studies should take account of economic, social and technical factors; - the need for the Community not just to promote but to attach the greatest importance to technical cooperation. The Council also included new provisions seeking to: - delete article 5 of the proposal on budgetary aspects; - simplify the reference to the Council regulation (defining the general rules for funding trans-European networks), which will form the legal basis for financial aid granted under the TEN policy; - introduce a type IIIa committee (regulatory committee). �