Europe faces an energy crisis, with large companies cancelling investments in new power plants because of regulatory uncertainty and difficulties in obtaining planning approval.
It is a delay the region cannot afford - Europe needs to spend $3.7 trillion on upgrading power networks in the next 25 years.
Johannes Teyssen, the chief operating officer at Germany's biggest power group, said the European Commission's plans to make companies pay for all their pollution permits from 2013, long delays in approving applications and confusion among national regulators were to blame for the cancellations. Dr Teyssen, the European vice-chairman of the World Energy Council, said: "We see now every week a new investment project being cancelled across the EU."
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