European Industry Leaders Gather to Accelerate Electricity Grid Development for Energy Transition

European Industry Leaders Gather to Accelerate Electricity Grid Development for Energy Transition

(IN BRIEF) Over 200 European industry leaders convened at the ENTSO-E High-Level Forum on Future of Our Grids in Brussels to discuss the challenges and opportunities for accelerating the development of electricity grids necessary for Europe’s energy transition. The forum, held under the patronage of EU Commissioner for Energy Kadri Simson, highlighted the critical role of electricity grids in achieving the European Green Deal targets and transitioning to a decarbonized power system. Key areas of discussion included financing investments, regulatory frameworks, manufacturing supply chains, and collaboration. Europe needs an annual investment of €6 billion in cross-border infrastructure to support the transition.

(PRESS RELEASE) BRUSSELS, 8-Sep-2023 — /EuropaWire/ — The EU electricity grid forum was organised under the patronage of EU Commissioner for Energy, Kadri Simson. The EU Spanish Presidency with the presence of Vice-President and Minister for Ecological Transition Teresa Ribera high-lighted the importance of electricity grids as a key enabler for meeting the European Green Deal targets. Leaders from across the electricity sector including representatives from grid operators, technology providers and EU decision-makers.

With its ‘Vision – A Power System for a Carbon Neutral Europe’, ENTSO-E has highlighted the key role of electricity grids which are needed to achieve the energy transition to a fully decarbonized power system, simultaneously integrating the growing share of carbon neutral electricity and flexibility sources, whilst securing an affordable supply of power for all. ENTSO-E’s latest Ten-Year Network Development Plan shows how Europe needs to invest €6 billion per year up to 2040 only in cross-border infrastructure, which will lower consumer bills by €9 billion per year.

The EU grid forum provided a platform for participants to discuss the opportunities and challenges across four key aspects to enable grids to deliver on the energy transition: 1. Financing the necessary investments; 2. Regulatory & Policy framework; 3. Manufacturing supply chains and skills; and 4. Working together.

Kadri Simson, EU Energy Commissioner “Grids are at the very core of the European energy system. Power generators, transmission and distribution lines are all working together to deliver energy to the households and businesses across our continent. We have witnessed unprecedented turbulence in European energy system in the past two years. It is now time to look beyond the crises and future-proof our energy infrastructure. I am determined to bring grids to the political debate. Today’s dedicated Future of Grids Forum provided inspiration for the way ahead, and I am grateful to ENTSO-E for bringing such an impressive representation together.

Zbyněk Boldiš, President of ENTSO-E “The Electricity Grid Forum has been a unique opportunity for the actors of the energy system to discuss the challenges and future opportunities lying with the role of electricity grids in the energy transition. We call for continuation of the constructive dialogue started today with EU decision-makers to join forces and unlock the potential that grids can bring to meet the European decarbonization targets.”

The publications from the High-Level Forum will be made available on the Electricity Grid Forum website in order to be used as a reference for policy action in the future.

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SOURCE: ENTSO-E