I'll continue that quote I gave above from the EU's own site. Just in case anyone can be bothered to read and understand it:

In the adoption of legislative acts, a distinction is made between the ordinary legislative procedure (codecision), which puts Parliament on an equal footing with the Council, and the special legislative procedures, which apply only in specific cases where Parliament has only a consultative role.

On certain questions (e.g. taxation) the European Parliament gives only an advisory opinion, (the 'consultation procedure'). In some cases the Treaty provides that consultation is obligatory, being required by the legal base, and the proposal cannot acquire the force of law unless Parliament has delivered an opinion. In this case the Council is not empowered to take a decision alone.

Parliament has a power of political initiative

It can ask the Commission to present legislative proposals for laws to the Council.

It plays a genuine role in creating new laws, since it examines the Commission's annual programme of work and says which laws it would like to see introduced

On the 'consultation procedure' that site also states:
The European Parliament may approve or reject a legislative proposal, or propose amendments to it. The Council is not legally obliged to take account of Parliament's opinion but in line with the case-law of the Court of Justice, it must not take a decision without having received it.
So, effectively, Parliament's opinion is advisory only.