Brussels, 17/10/2011 (Agence Europe) - The transition of the EU towards a greener energy system could, according to the Commission, involve electricity price increases for at least 20 years.
According to an internal Commission report, published by the Financial Times on 16 October, energy prices will increase for a period of at least 20 years for both consumers and businesses if the EU is serious about achieving its climate goals: reducing its emissions by 80% by 2050, which will involve the use of a 20% proportion of renewable energy sources in its energy mix by 2020.
According to this report, the most likely industrial hypothesis will be an explosion in wind energy in the EU, producing almost 50% of its electricity by 2050, as opposed to the current 5% produced today. Nonetheless, whatever happens, electricity prices will sharply increase for a period of at least 20 years before slowing down towards 2050. This is down to two reasons: covering the cost of the massive investment required for implementing new energy infrastructure, and covering the investment needed for maintaining existing installations that are being wound down before the current expansion in green energies. Of the five scenarios, the most costly is the massive use of wind and solar energy, which could lead to at least a doubling in electricity prices for individual households by 2050. The least expensive option, which places significant importance on nuclear energy and technology for carbon capture and storage, would mean an increase of no more than 43% over the same period. (EH/transl.fl)