The European Union must invest €1.871 trillion to modernise its power grids by 2050

For the modernisation of ageing electricity grids in Europe, "substantial investments" must be made in the 27 countries...

An aging electric network, the need for colossal investments, the Europe of electricity needs a little more juice and innovation!

While the EU Commission expects costs of up to 2300 billion euros by 2050, auditors believe that cooperation will also make things cheaper

The EU's Energy Regulators Association (ACER) has sparked controversy with its latest report "Getting the signals right: Electricity network schedule in Europe" on electricity grid tariffs, in which it warns that the annual costs of grids for consumers could skyrocket between 50% and 100% by 2050. According to the agency, this is because annual investments in electricity networks will double to EUR 100 billion per year in the coming decades. How…

The European Union must invest €1.871 trillion to modernise its power grids by 2050

The European Court of Auditors warns of the urgency of massive investments in the Union’s ageing power grids, hampered by administrative delays and inadequate planning.

The EU must accelerate the modernization of its energy networks and make the system more flexible if it wants to meet the Community's future electricity needs and implement the energy transformation, according to a report by EU auditors published on Tuesday. They pointed out directly: a large part of the EU's electricity network is outdated and cannot keep up with growing electrification. They found that the pace of planned investments in the EU…