EC communication on Energy Union

EC communication on Energy Union

Source: European Commission

The European Commission (EC) has issued a communication that sets out a strategy framework strategy for a “resilient Energy Union with a forward-looking climate change policy. The EC outlined Energy Union should foster a sustainable, low-carbon and environmentally friendly economy designed to last. Research and Innovation will be at the very heart of this news strategy and actions will be grouped around the following four core priorities:

  • Being the world leader in developing the next generation of renewable energy technologies;
  • Facilitating the participation of consumers in the energy transition;
  • Efficient energy systems and harnessing technology;
  • More sustainable transport systems and services to increase energy efficiency and reduce greenhouse gas emissions.

In addition to these priorities, the communication states that there is a need for a better collaboration between the Commission and Member States interested in using CCS. The EC endorses a forward-looking approach to carbon capture and storage (CCS) and carbon capture and use (CCU) for the power and industrial sectors, which it deems to be critical to reaching the 2050 climate objectives in a cost-effective way. Reaching 2050 goals will also require an enabling policy framework, including a reform of the Emissions Trading System and establishing a new Innovation Fund. It is expected that these actions will result in increased business activity and clarity for investors, essential to further develop this technology.