In the wake of the presentation of the Clean Industrial Deal (see EUROPE 13588/1), the European Commission’s Director-General for Energy, Ditte Juul Jørgensen, stressed on Thursday 27 February at the plenary meeting of the Investors Dialogue on Energy that the EU was currently at a critical juncture in its transition to a carbon-neutral economy, requiring “decarbonisation and industrialisation at the same time”, with a consequent need for investment.
The Commission estimates that this investment will amount to almost €600 billion a year between now and 2030 for the energy sector alone.
“The numbers we need over the coming years is about twice of what was already invested in the preceding decade. That was not a particular good decade when it comes to investments into the energy system, but nonetheless it gives you a sense of the scale”, explained Ms Jørgensen.
She also stressed the importance of simplifying certain legislation, without undermining predictability for investors. In her view, the ‘omnibus’ texts presented yesterday (see EUROPE 13588/4) represent a first step in this direction.
She then asked investors to notify the Commission of any other simplification needed to “encourage investment in the energy sector”.
In her view, simplification is “a risk reduction measure in itself”, as is predictability and certainty for investors - whether in terms of streamlining permits, speeding their issue or providing clarity on what the energy system should look like in the future. (Original version in French by Pauline Denys)