The 2015 Paris Agreement marked an historic milestone in the transition to a climate-neutral world. Power grids are critical to enabling this energy transition, as they are key for energy demand electrification and renewable integration in the power system. Eurelectric, a number of Distribution System Operators (DSO), power utilities associations, and E.DSO, supported by Monitor Deloitte, developed this study to assess power grid investments required for the energy transition in Europe and to develop policy and regulatory recommendations.
Since the 2015 Paris Agreement, the EU has led the way in deploying ambitious decarbonisation policies and targets. Moreover, as part of the European Green Deal, the European Commission proposed in September 2020 to raise the 2030 greenhouse gas emission (GHG) reduction target to at least 55% compared to 1990. Power grids play a key role in achieving these goals: electrification reduces GHG emissions because it enables a switch to carbon-neutral electricity and has higher efficiency for most relevant applications. Electric production of energy carriers, such as green hydrogen and power-to-X, will also reduce emissions where direct use of electricity may not be appropriate.
Monitor Deloitte provided analytical support and facilitated this study, working together with Eurelectric, power grid companies, country power utilities associations, and E.DSO.
Eurelectric is the federation for the European electricity industry. They represent the power sector in over 32 European countries, speaking for more than 3,500 companies in power generation, distribution, and supply. They contribute to the competitiveness of our industry, provide effective representation in public affairs, and promote the role electricity in addressing the challenges of sustainable development.
They draw on more than 1000 industry experts to ensure that their policy positions and opinions reflect the most recent developments in the sector. This structure of expertise ensures that Eurelectric’s publications are based on high-quality input with up-to-date information.