In the opinion of Teresa Ribera, Spain’s current Minister for Ecological Transition and Commissioner-designate, who has been approached to take charge of the EU’s green agenda, massive investment in electricity networks is regarded as crucial for a “clean and powerful” Europe.
Speaking on a panel devoted to the financing of electricity networks as part of the Bruegel think-tank’s Annual Meetings, on Wednesday 4 September, Ms Ribera acknowledged the modernity of European networks compared to those in other parts of the world, but called to “almost double the capacity to invest in our networks over a short period of time” in order to ensure the EU’s energy transition.
Such investment is seen as increasingly urgent, not only to meet the EU’s electrification needs, but also to complete the single market and promote cross-border trade.
She explained that it was necessary to be able to count on the desire of the public and private sectors to unlock these investments, but that at the same time, “the procedural and administrative aspects must be accelerated”.
Furthermore, the Minister called for environmental requirements to be taken into account and for appropriate investment signals to be sent, with an emphasis on risk reduction.
A priority for the future Polish Presidency. Krzysztof Bolesta, Poland’s Secretary of State for Climate and the Environment, was also invited to the panel where he emphasised the urgent need to invest in networks. This point will also be one of the future priorities of the Polish Presidency of the Council of the EU, which begins on 1 January 2025.
He therefore called for an estimated investment cost of €600 billion between now and 2030 to be borne in mind and he emphasised just how important it was to mobilise public funds to keep this cost affordable for consumers.
“Of course, we need all the private investors we can get, but a very important component will be money from the State”, he said.
On this point, he indicated that his country will initiate discussions on the next Multiannual Financial Framework (MFF) 2028–2034 in order to secure the European resources needed for investment in networks. In his view, the funds of the Connecting Europe Facility (CEF) programme need to be massively increased.
He also expressed his confidence in the “successful” synchronisation of the Baltic region with the continental European network (see EUROPE 13455/12), which will take place during the term of the Polish Presidency. (Original version in French by Pauline Denys)