The European Union unveils its new electricity grid strategy

The European Commission has published its Action Plan to hasten the growth and efficiency of electricity grids across the EU, an essential step for a safe and reliable green transition for the continent. Anticipating a 60% surge in power consumption by 2030, this plan targets extensive grid modernization, emphasizing tailored actions for swift investments.

These initiatives aim to modernize grids, accommodating a digitized and flexible energy system. It outlines seven key steps, including regulatory incentives, financing access, and streamlining permitting processes. The €584 billion investment is also intended to revamp aged infrastructure, enabling integration of renewables, electric vehicles, and more.