EU’s green transition concerning energy
The European Green Deal (2020) focuses on the following 3 key principles for the transition to clean energy, which will contribute to reducing greenhouse gas emissions and improving the quality of life of EU citizens: a) ensuring a secure and affordable energy supply of EU, b) creating a fully integrated, interconnected and digitized EU energy market and c) promoting energy efficiency, improving the energy efficiency of our buildings and developing an energy sector that will rely heavily on renewable energy sources (RES). In this context, the decarbonisation of the EU energy system is crucial to meet the objectives of the EU Green Deal by 2030 as well as the EU's long-term strategy to be carbon neutral by 2050. In that context, EU countries are required to draw up a ten-year integrated national energy and climate plan (NECP) for the period from 2021 to 2030. The national plans outline how EU countries intend to act in five areas: energy efficiency, renewable energy, reducing greenhouse gas emissions, interconnections, and research and innovation.
The EU's initiatives for the green transition in the energy sector are reflected in the new strategy for the Integration of the European Energy System presented by the European Commission on 07.08.2020. Sector integration means connecting different energy carriers — electricity, heat, cooling, natural gas, solid and liquid fuels — with each other and with end-use sectors such as buildings, transport or industry. Linking the sectors will enable the optimization of the EU's energy system as a whole, rather than a decarbonisation and efficiency improvement for each sector separately. This new EU strategy — in synergy with a new specific hydrogen strategy in Europe — will lay the foundations for the decarbonised European energy system of the future.
The European Commission presented, on 18.05.2022, the RE Power EU package, which aims to gradually eliminate the EU’s dependency on Russian fossil fuels, through (a) the diversification of energy suppliers, (b) accelerating the development of environmentally friendly energy sources and (c) energy conservation. In parallel, with the REPower EU project presented in 2022, the European Commission issued the communication on the EU External Energy Engagement in a Changing World concerning energy cooperation with third countries, in the light of the developments brought about the Russian invasion of Ukraine in February 2022. The announcement reiterates the necessity of channeling energy resources through the Eastern Mediterranean, while special reference is made to the need of strengthening EU-Africa cooperation in the fields of climate change and energy.
On 19 June 2023,the European Council reached an agreement on parts of the electricity market reform. A general approach was agreed on the wholesale energy market integrity and transparency regulation (REMIT). The proposal aims to support an open and fair competition in the European wholesale energy markets, by banning trading based on inside information and deterring market manipulation. The remaining parts of the reform, that aim to make electricity prices less dependent on volatile fossil fuel prices and shield consumers from price spikes and accelerate the deployment of renewable energies and improve consumer protection, are to be agreed at a later stage.
Furthermore, Greece supports the efforts that promote the energy security of the EU,as well as the diversification of energy sources, while it considers it crucial to take into account the particularities of the countries. In this context, Greece can contribute to the energy autonomy plans of the EU, through the infrastructures for the production and transport of "green" energy from RES that it is developing on the energy map, especially in Southeast Europe and the Eastern Mediterranean. At regional level, this endeavour can be facilitated by the cooperation between the EU countries of the Mediterranean (EUMED-9) in order to produce increased amounts of solar and wind energy. Therefore, Greece's contribution to the acceleration of EU decarbonisation and energy autonomy is possible, through the integration of energy networks and enhanced cooperation between Mediterranean states, to transform the region in question into a "green" transport energy hub.
Regarding the REPowerEU package, Greece is in favour of increasing the contribution of renewable energy sources to 45% by 2030, in order to address the dual urgency of transforming Europe's energy system, i.e. ending dependence faster of the EU from Russian fossil fuels and to address the climate crisis. In addition, Greece supports the implementation of short-term measures in the electricity market, as well as the ongoing processes for the redesign of the energy market in the long term, with the aim of decoupling electricity prices from natural gas prices. Likewise, Greece supports EU efforts that promote the security of Europe's energy supply and the diversification of energy sources. In this context, Greece can contribute to the energy autonomy plans of the EU, through the infrastructures for the production and transport of "green" energy from RES that it is developing on the energy map, especially in Southeast Europe and the Eastern Mediterranean.
You may find more information on the following links:
- The EU Green Deal and Energy:
https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/energy-and-green-deal_en
- The REPower EU Plan:
https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal/repowereu-affordable-secure-and-sustainable-energy-europe_en