The CEOs of 10 utilities companies, which together own half of Europe's electricity generating capacity, are calling for an end to subsidies for wind and solar energy, which they say add too much power to a market already struggling with overcapacity.

The CEOs in the so-called Magritte Group also call for a Europe-wide capacity mechanism that would pay utilities for keeping electric power generating capacity on standby and want the EU to boost its carbon emissions scheme, whose low prices have failed to boost low-carbon fuels like natural gas and nuclear energy.

First gathered this spring in the Brussels museum of Belgian surrealist artist Rene Magritte, the informal group has lobbied the European Commission and national governments to change EU energy policy, which they say has failed to achieve its triple goal of lowering prices, reducing carbon emissions and securing energy supply.

The group - which includes top utilities such as France's GDF Suez, Germany's E.ON, Spain's Iberdrola and Italy's Enel - has made an impact, as several countries, including Spain, Germany and France, have reviewed or are reviewing support schemes for renewable energy.

With an unprecedented joint press conference of 10 CEOs in Brussels on Friday, the Magritte group hopes to put pressure on EU policy makers ahead of an energy summit early next year, and wants to press its case for considering wind and solar as a mature industry that no longer requires subsidies.

They are right about the need for a Europe-wide capacity mechanism.

_{It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II}