They have been part of our daily life for such a long time that it seems odd that they will disappear. As from 1 September, 60 watt bulbs will gradually disappear from store shelves, as EU law will ban this type of bulb. Why? Edison’s light bulb, which has produced light for more than 100 years, is simply no longer state of the art when it comes to lighting – they just consume too much energy for the light they produce. New lamps – producing similar light – be it an energy saving or compact fluorescent lamp (CFL), save up to 80 per cent more energy compared to the Edison style lamp and its lifetime is up to 10 times longer. By changing all the light bulbs, an average family can easily save €50 per year on their annual electricity bill, and the EU as a whole can save the yearly output of 10 power stations and 15 million tonnes per year of CO2 emissions, which is like taking seven million cars (i.e. more than 23 times the number of cars in Malta) off the road.

This is not peanuts. It is a substantial contribution to our strategy to reduce our energy consumption and greenhouse gas emissions: Europe can simply not afford to waste energy. Energy efficiency is at the heart of the EU’s Europe 2020 Strategy for smart, sustainable and inclusive growth and of the transition to a resource efficient economy. It is a key factor in achieving our long-term energy and climate goals, as the energy we do not use does not pollute our climate and our environment. Energy efficiency is also one of the most cost effective ways to enhance the security of energy supply. If we use less energy, we are less dependent on imports. And for those Member States that aim to get out of nuclear or have decided not to get into it – it is paramount to reach that goal because renewable energy on its own will not do the trick. In many ways, therefore, energy efficiency can be seen as Europe’s biggest energy resource.

It was for all these reasons that Heads of States back in 2007 set themselves an ambitious energy efficiency target: by 2020, energy consumption in the European Union should be cut by 20 per cent. Phasing out light bulbs was just one part of this strategy. But other inefficient products in our homes were also targeted, mainly by introducing energy labels that tell consumers whether the product is energy efficient or not. As a result of the technological improvements triggered by the label, 90 per cent of the fridges, washing machines and dishwashers nowadays reach class “A”, which is the highest class of the old label system. This pays off in terms of energy and also money: An average washing machine built 15-20 years ago consumed 1.5 kWh and 100 litres of water. Today, a modern washing machine consumes 0.85 kWh and 40 litres of water. Thus, the new washing machine will save you around €80 per year.

But these measures alone will not help us reach our energy efficiency goals. As things stand today, we will only reach 10 per cent energy efficiency in 2020 – and thus half the target. It is for these reasons that the EU Commission in June this year tabled new proposals – they go well beyond private households and include public administrations, energy companies and industry. One important area is housing – because almost 40 per cent of all the energy we consume in the EU is used in private and public buildings: for lighting, for our electrical devices but most of all for heating (67 per cent). This means that good insulation and renovation is key. It is for this reason that we propose that public administrations should double the renovation rate from 1.5 per cent to three per cent. And we propose that energy companies have to help their consumers to cut energy consumption. In France and the UK this policy is already very successful, with consumers saving on energy and the companies partly moving into other sectors such as offering energy services rather than selling energy only.

Now, as with the light bulb – people may say – this is not practical, this we do not like. You always find something to criticize. But one thing is sure − we have to act now to get on track to achieve the target. Only the combined effects of full implementation of existing and new measures proposed in the Energy Efficiency Plan and Savings Directive will transform our daily life and have the potential to generate financial savings of up to €1,000 per household every year; improve Europe’s industrial competitiveness; create up to two million jobs; and reduce annual greenhouse gas emissions by 740 million tonnes.

And let’s be honest – it is not only Europe – or some Brussels bureaucrats – who want to save energy. It is an international phenomenon. Take the light bulb for example. The USA has banned them, so has Australia, Canada and South Korea. China, India and Russia intend to follow. For our well being. For our future.

Mr Oettinger is European Commissioner for Energy