EU Urges Electricity Grid Upgrade by 2025 to Boost Resilience and Lower Prices
The recent blackout in the Iberian Peninsula has highlighted the urgent need to upgrade Europe's electricity network. The EU aims to bolster its grid's resilience and modernise infrastructure by the end of 2025. National regulatory authorities, such as Germany's Bundesnetzagentur, will play a key role in implementation, along with member states and the European Commission.
The current grid, largely built in the mid-20th century, is struggling to accommodate renewable energy sources. It lacks two-way flow capability and adequate storage or backup systems. This, coupled with complex administrative procedures, is slowing down efforts to increase production capacity and strengthen the grid.
Electricity prices in Europe are nearly double those charged by main trading partners. To address this, the European Parliament's energy committee has called for enhanced grid resilience and simplified permit procedures for modernisation. The European Commission has responded with a guidance document advocating simplified, two-step approval processes for grid projects and plans to table a new European Grids Package by the end of 2025.
Modernising the grid is estimated to require significant investment, around two to three per cent of current GDP. Strengthening cross-border interconnections can improve supply and demand balance and contribute to lowering prices.
The EU is committed to modernising its electricity network by the end of 2025. This will involve streamlining administrative procedures, investing significantly, and bolstering cross-border interconnections. National regulatory authorities, member states, and the European Commission will work together to ensure the resilience and efficiency of Europe's electricity grid.
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