Pan-European regulator rejected

European Union leaders have given their backing to a common European energy policy - but have rejected the possibility of a pan-European energy regulator.

"The completion of the internal market, the fight against climate change, and security of supply, are common energy challenges that call for common solutions. It is time for a new European energy policy", said EU energy commissioner Andris Piebalgs.

The European Commission launched a consultation paper on March 8 that could form the basis of a

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