Eurelectric Calls for Updated Energy Security Strategy Amid Ongoing Challenges
A new study highlights the need for a clean electrification-based approach to enhance Europe's energy resilience.
Brussels – Europe’s energy infrastructure is facing unprecedented challenges, including repeated sabotage of cables in the Baltic, devastating storms affecting Ireland’s power supply, and ongoing warfare in Ukraine that has disrupted traditional fuel sources.
In this context, the urgency of developing a robust energy security strategy has grown.
A recent study conducted by Compass Lexecon on behalf of Eurelectric emphasizes the necessity for a new energy security framework centered on clean electrification.
Such an approach is designed to reduce dependence on imported fuels, mitigate vulnerability to commodity price shocks, and strengthen the overall resilience of the energy system.
The current energy security strategy of the European Union was established in 2014 during a time of heavy reliance on Russian imports, with renewable energy comprising a minor percentage of the energy mix.
Recent trends indicate a significant shift, with projections suggesting that energy imports will decline from 60 percent in 2022 to approximately 13 percent by 2050, driven largely by the electrification of transport and heating.
Additionally, it is anticipated that renewable sources will generate 69 percent of Europe’s total power by 2030 as Russian oil and gas are phased out from the market.
Leonhard Birnbaum, President of Eurelectric and CEO of E.ON, remarked on the pressing nature of these developments, stating, "The recent year has shown us that business-as-usual in Europe is no longer an option.
With the threats faced by our sector, security of supply is becoming an urgent priority that policymakers and regulators must acknowledge."
The study outlines three key pillars essential for ensuring a secure electricity supply in Europe:
Better Planning: The report emphasizes the importance of comprehensive preparedness frameworks that encompass the entire energy value chain, incorporate various energy vectors, span extended timeframes, and consider external threats to effectively identify system needs.
More Flexibility: The integration of a substantial amount of flexible capacity is deemed necessary to complement variable renewable energy sources.
The study calls for an additional 175 GW from new electricity storage technologies and demand-side management by 2030. It also highlights the need for capacity mechanisms and flexibility support schemes to incentivize investment in these areas.
Functioning Markets: Effective pricing signals are essential; they should reflect the actual needs of the energy system and enable consumers to adjust their energy use in ways that contribute to the security of supply.
Birnbaum acknowledged the challenges ahead, stating, "This is not going to be an easy endeavor.
Let’s make sure Europe has the right vision for it."
The findings of this study will be officially presented at the upcoming Munich Security Conference.
In this context, the urgency of developing a robust energy security strategy has grown.
A recent study conducted by Compass Lexecon on behalf of Eurelectric emphasizes the necessity for a new energy security framework centered on clean electrification.
Such an approach is designed to reduce dependence on imported fuels, mitigate vulnerability to commodity price shocks, and strengthen the overall resilience of the energy system.
The current energy security strategy of the European Union was established in 2014 during a time of heavy reliance on Russian imports, with renewable energy comprising a minor percentage of the energy mix.
Recent trends indicate a significant shift, with projections suggesting that energy imports will decline from 60 percent in 2022 to approximately 13 percent by 2050, driven largely by the electrification of transport and heating.
Additionally, it is anticipated that renewable sources will generate 69 percent of Europe’s total power by 2030 as Russian oil and gas are phased out from the market.
Leonhard Birnbaum, President of Eurelectric and CEO of E.ON, remarked on the pressing nature of these developments, stating, "The recent year has shown us that business-as-usual in Europe is no longer an option.
With the threats faced by our sector, security of supply is becoming an urgent priority that policymakers and regulators must acknowledge."
The study outlines three key pillars essential for ensuring a secure electricity supply in Europe:
Better Planning: The report emphasizes the importance of comprehensive preparedness frameworks that encompass the entire energy value chain, incorporate various energy vectors, span extended timeframes, and consider external threats to effectively identify system needs.
More Flexibility: The integration of a substantial amount of flexible capacity is deemed necessary to complement variable renewable energy sources.
The study calls for an additional 175 GW from new electricity storage technologies and demand-side management by 2030. It also highlights the need for capacity mechanisms and flexibility support schemes to incentivize investment in these areas.
Functioning Markets: Effective pricing signals are essential; they should reflect the actual needs of the energy system and enable consumers to adjust their energy use in ways that contribute to the security of supply.
Birnbaum acknowledged the challenges ahead, stating, "This is not going to be an easy endeavor.
Let’s make sure Europe has the right vision for it."
The findings of this study will be officially presented at the upcoming Munich Security Conference.
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