European Commissioner for Competition on Energy, Consolidation, and Banking (with Guy Johnson, Tom Mackenzie)

Commissioner Ribera argues that decarbonization will lower energy bills, not raise them. She is open to consolidation in industries like wind turbines if it helps innovation and scale, but warns against monopolies. She calls for a more integrated single market, especially in banking, and criticizes the use of security clauses to block cross-border consolidation.

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European Commission 7.0
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Teresa Ribera 7.0

European Commissioner for Competition on Energy, Consolidation, and Banking (with Guy Johnson, Tom Mackenzie)

Guy Johnson

Asks if Europe is decarbonizing fast enough and if faster decarbonization would lead to higher or lower energy prices.
Teresa Ribera

We need to decarbonize much faster and develop adaptation strategies. The claim that decarbonization raises bills is fake. Low-carbon, home-grown solutions lower the bill and are more secure and affordable than imported fossil fuels.
Tom Mackenzie

Asks if the EU should import more solar panels and turbines from China on a cost and efficiency basis.
Teresa Ribera

We can develop a clean industry in Europe, but we will never be isolated. The important thing is not to increase dependencies. We need to ensure that what we import is not being subsidized elsewhere.
Guy Johnson

Asks if Europe needs consolidation in the wind turbine industry to compete.
Teresa Ribera

We are assessing whether consolidation projects can help innovation and resilience. It can be at the cost of creating a monopoly, but that is part of the exercise.
Guy Johnson

Asks if Europe is changing its perception of the competition mandate to build champions.
Teresa Ribera

Competition drives innovation and benefits consumers. But in some cases, innovation requires scale. We are engaging with the public and corporates on how to foresee an innovative approach to consolidation.
Tom Mackenzie

Asks if the lack of banking consolidation in Europe, citing Germany's pushback on UniCredit's bid for Commerzbank, is a problem.
Teresa Ribera

We need a capital markets union and integration of markets. The lack of integration in banking is connected to the competitiveness gap. National governments need to remind themselves that being alone together requires a single market.
Tom Mackenzie

Asks about the potential Paramount and Warner merger and what the commission would need to see to be satisfied it doesn't negatively impact competition.
Teresa Ribera

We are working on it. Key aspects are the reduction of capacity for creators to bring ideas to market and the availability of alternatives for producers. There are also cultural and language considerations.

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