Securing Europe’s Energy Supply

Energy is the heart of our economy and our society. If we invest in our energy system,
we are investing in the future. If, however, we neglect our energy supply and energy efficiency, the consequences could be profound and irreversible. In this respect, our
plans regarding energy technology and infrastructure are crucial.
The need to invest in new energy infrastructure, technologies and sources of energy
is enormous. It is estimated that by 2030 up to one trillion euros will have to be invested
in the European electricity grids and electricity generation and 150 billion euros in the
gas network, excluding import pipelines from third countries.

With regard to natural gas, we need to increase import capacities and diversify sources. New gas pipelines are needed, particularly in the new Member States, and the import sources and channels must be diversified.
In the electricity sector we need a greater diversification of production and more flexibility in consumption. As far as the electricity industry is concerned, we need new, modernised and smart grids to achieve our climate objectives. Our current network is not geared towards decentral electricity production at a remove from the user.

We must develop a new generation of technologies with regard to achieving the 20-20-20 goals and a CO2-free energy sector by 2050. Even if some of these technologies cannot be used in the medium term, it is very important to launch them as soon as possible.
At present, research and development are chronically underfunded in the EU.
We risk missing the boat if there is a boom in the markets for new energy technologies. The Commission is assuming that in the next ten years another 50 billion euros must
be invested in energy research. This would almost triple the annual volume of investment
in the EU, by increasing it from three to eight billion euros.

Regarding nuclear energy, this can be an answer to both climate change and securing
the energy supply, and also help make the EU more competitive. While public opinion
in Europe does recognise its advantages, it is also aware of the risks of nuclear energy.
This calls for a continuing policy to ensure that maximum standards are set and kept
with regard to safety and security requirements. Our vision of achieving a carbon-free energy and transport system by 2050 is indeed ambitious but entirely realistic.
We are talking about a future energy mix produced predominantly from renewable and nuclear sources, but also fossil fuels with carbon capture and storage.

For these reasons, the EU must above all create the necessary energy policy stimuli
and incentives for investment to boost investments. The above-mentioned smart grids
and networks and alternative fuels play a major role in this regard. Ultimately it comes down to the energy mix and market players’ behaviour. The internal market in energy, energy supply security, energy efficiency, renewable energies, infrastructure and low-emission energy networks for tomorrow: there are the main issues for Europe’s energy policy. Together with the development of an external European policy for energy,
they are also my priorities as Energy Commissioner for the coming years.

Günther H. Oettinger.....
European Commissioner for Energy.....