Energy Charter Treaty

156 ENERGY CHARTER PROTOCOL ON ENERGY EFFICIENCY AND RELATED ENVIRONMENTAL ASPECTS (Annex 3 to the Final Act of the European Energy Charter Conference) PREAMBLE THE CONTRACTING PARTIES to this Protocol, Having regard to the European Energy Charter adopted in the Concluding Document of the Hague Conference on the European Energy Charter, signed at The Hague on 17 December 1991; and in particular to the declarations therein that cooperation is necessary in the field of energy efficiency and related environmental protection; Having regard also to the Energy Charter Treaty, opened for signature from 17 December 1994 to 16 June 1995; Mindful of the work undertaken by international organisations and fora in the field of energy efficiency and environmental aspects of the energy cycle; Aware of the improvements in supply security, and of the significant economic and environmental gains, which result from the implementation of cost-effective energy efficiency measures; and aware of their importance for restructuring economies and improving living standards; Recognising that improvements in energy efficiency reduce negative environmental consequences of the energy cycle including global warming and acidification; Convinced that energy prices should reflect as far as possible a competitive market, ensuring market-oriented price formation, including fuller reflection of environmental costs and benefits, and recognising that such price formation is vital to progress in energy efficiency and associated environmental protection; Appreciating the vital role of the private sector including small and medium- sized enterprises in promoting and implementing energy efficiency measures, and intent on ensuring a favourable institutional framework for economically viable investment in energy efficiency; Annex T: http://www.energycharter.org/.