The texts approval of diplomats from the 27 member states and would then have to be rubber-stamped by ministers

The European Union negotiators agreed early today the text of the new Energy Efficiency Directive, according to a Reuters, quoted by publics.bg. The draft was agreed by representatives of the European Commission, the European Parliament and the presidency shortly after midnight, EU sources said. It still needs the approval of diplomats from the 27 member states and would then have to be rubber-stamped by ministers.

A final round of negotiations, which began late on Wednesday, forged a deal more likely to put the bloc on course for roughly 15 percent savings. Its champions said it can still change the status quo to the benefit of consumers' and nations' budgets, the report says.

"We are changing the business model. The future business model of energy companies would also be energy efficiency service business. This is about a cultural business model change and that is why the fight is so brutal," said Claude Turmes, a Green member of the European Parliament, who has led the parliamentary contribution to the legislation, cited by Reuters. Opponents have attacked the draft Energy Efficiency Directive on the grounds it could hobble growth and there is no money available for the upfront spending required to bring about the longer term savings.

The Commission's original proposal for the Energy Efficiency Directive included provisions for renovating public buildings. Again the ambition was reduced over the course of the debate, meaning very few buildings would be covered by the final text. Britain, for instance, added defence and military buildings to a long list of exemptions.

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