The Energy Council that was held on Februay 4, 2011 organized by the Hungarian presidency focused on  two sectors – energy  and innovation. It agreed on a  number of priority actions whose implementation should  contribute  to enhancing growth  and job creation as well as promoting Europe’s competitiveness:
1.   Early adoption of the Commission’s proposal for a Regulation  on energy markets integrity and transparency;

2.  Efforts are needed to modernise and expand Europe’s energy infrastructure and to interconnect networks across borders, in line with the priorities identified by the Commission  communication on energy infrastructure: it stated that  no EU Member State should remain isolated from the European gas and  electricity networks after 2015;

3.  Bulk of the important financing costs for infrastructure investments will have to be  delivered by the market, with costs recovered through tariffs.  The Commission is invited to report by June 2011 to the Council on  figures on the investments likely to be needed, on suggestions on how to respond to financing requirements and on how to address possible obstacles to infrastructure investment;

4.  As of 1 January 2012, all Member States should include energy efficiency standards taking account of the EU headline target in public procurement for relevant public buildings and services;

5. EU Commission  to  table new initiatives on smart grids, including those linked to the development of clean vehicles, energy storage, sustainable bio fuels and energy saving solutions for cities.