Contributed by The Energy Industry Times
Eurelectric, the association representing the European electricity industry, has set out a new long-term vision for the electricity industry in Europe. National associations and chief executives from all major power companies in Europe have agreed on a Vision Declaration that commits the sector to accelerate the clean energy transition, taking a leading role in Europe’s decarbonisation efforts towards the Paris Agreement.
Francesco Starace, Eurelectric President and CEO of the Italian energy group Enel, said the industry sees a great opportunity on the path towards a progressively decarbonised and fully sustainable European energy future and that electricity is playing a growing role in making this vision happen.
“We are determined to accelerate the energy transition through a progressive electrification of Europe’s energy consumption while making the European power sector carbon-neutral well before mid-century,” he said.
With the new vision, the sector strengthens its commitment to invest in clean power generation and other transition-enabling solutions and, importantly, helps accelerate CO2 emission reductions in other sectors through increasingly efficient use of clean electricity.
“Electrification of heating, transport, and industry is a win-win. It comes with higher efficiency and lower CO2 emissions. We should do everything possible to advance electrification with smart regulation,” said Magnus Hall, CEO of Vattenfall and Vice-President of Eurelectric.
The rise of digital solutions and decentralised generation technologies have been centre-stage in the discussions over the new vision. They are widely believed to have profound impacts on the organisation of the sector and on the relations between companies and customers.
Alistair Philips-Davies, CEO of SSE and Vice-President of Eurelectric noted: “The investment required in clean electricity and transition-enabling technologies is huge. This statement reflects our full commitment to invest in innovation, to build new cross-sector business models, and ensure that electricity keeps creating value in decades to come.”
The announcement follows a comprehensive consultation process, which engaged company CEOs and industry representatives from across Europe. The final declaration received unanimous support at its adoption. Eurelectric said it demonstrates the “unwavering commitment” from the power sector to play a key role in the transition to a sustainable, smart and energy efficient society.
The organisation called on policymakers to do their utmost to ensure a fair and responsible transition, both socially and geographically, and provide the necessary support and funding to address any socio-economic impacts.
Article courtesy of The Energy Industry Times, read more articles here.
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