Over the next few years massive investments will be required for new energy infrastructure and the development of innovative technologies, in order to grant Europe secure, affordable and environmentally friendly electricity supplies. The latter was stated by Enel CEO Fulvio Conti in Stockholm, while attending the annual meeting of Eurelectric, the European association of electrical industry, of which Conti was elected president.
Conti went on to say that, due to their amount and return time, these investments are a challenge for Europe’s energy system, but they are necessary for the achievement of the single energy market and to attain the emissions reduction target set by the EU.
“Europe’s energy system of tomorrow depends on creating a competitive investment climate today. We urgently need a stable regulatory framework in the long term and of equitable market conditions, in order to ensure adequate funding for more efficient and innovative projects in sectors including: renewable energy sources, flexible and back-up capacity, cleaner technologies such as carbon capture and storage (CCS) and electric transport, and in more efficient infrastructure like smart grids”.
Also Johannes Teyssen, E.On CEO and vicepresident of Eurelectric, mentioned the importance of creating a common regulatory framework. “The ambitious targets set by the European Union can be achieved only if the 27 Member States will agree upon the introduction of a set of common energy policy instruments”.
As an example, Teyssen mentioned the existence in Europe of widely differing national support schemes for renewables, and he said that only the increased harmonization of these schemes will create the conditions for competitiveness that will allow to drastically reduce carbon emissions by 2050 in the electricity sector.
