Electricity firms seek huge investment support for distribution grids
With energy ministers expected to call on the European Commission next week to promote the development of Europe’s power grid, the electricity industry has warned that annual investment in local distribution networks will need to double to some €67bn or risk jeopardising the energy transition. In a report published on Wednesday (22 May) during its annual conference in Greece, the trade association Eurelectric has concluded that Europe’s transition away from fossil fuels, and its net-zero target, are at stake. Without investing a sum equivalent to 0.4% of the EU’s annual economic output (GDP) i...