Meanwhile the European electricity industry has been going through profound change in recent years, as our companies adjust to the demands of a liberalised market on the one hand and strive at the same time to meet the imperatives of ensuring secure supply in a sustainable manner. The electricity industry is fully aware of its twin roles of supporting - through a reliable, high-quality and competitively-priced supply of power - the performance of European industry, on which our future prosperity is based, and of contributing to efforts to reduce the environmental impact of industrial and economic activities.

This is the backdrop against which the power sector’s top executives gathered with policymakers and stakeholders at EURELECTRIC’s Annual Conference on 13-14 June, 2005 in Vienna, right at the heart of Europe, to discuss the future shape of the industry and draw lessons on how that future can be shaped to the benefit of all.

Opening with a high-level Executive Forum looking at the impact of new technology on the future electricity business, the Conference then featured sessions examining the electricity sector’s attractiveness to investors, the role of the electricity industry in supporting the competitiveness of European industry, and the regulatory and other framework conditions that will be pre-requisite to maintaining a robust European electricity industry capable of seizing the opportunities of competitive markets while delivering to our customers and to society as a whole. Sector and economic experts pointed up business trends and drew conclusions for the future shape of the industry.

The Conference provided a platform for lively dialogue with our partners and interlocutors from industry, political, legislative and academic circles and our financial and business stakeholders. We are confident that it provided those attending with some answers and plenty of food for further thought on the key issues surrending the future of the electricity industry.