The European Commission has published its Grid Action Plan, which aims to enhance the efficiency of electricity grids in the European Union. The Action Plan aims to address the main challenges in expanding, digitalising and better using EU electricity transmission and distribution grids. It identifies concrete and tailor-made actions to help unlock the required investment to get European electricity grids up to speed by 2030, as electricity consumption in the EU is expected to increase by around 60% by that year. The Commission estimates that €584bn (US$636bn) in investments will be needed to upgrade the European grid.
The Action Plan notably aims to accelerate the implementation of Projects of Common Interest and develop new projects; improve the long-term planning of grids to accommodate more renewables and electrified demand, including hydrogen, in the energy system; introduce regulatory incentives through guidance on investments and on cross-border cost sharing for offshore projects; enhance transparency and improve network tariffs for smarter grid technologies; improve access to finance for grids; stimulate faster permitting for grids; and secure grid supply chains by harmonising industry manufacturing requirements for generation and demand connection.
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