The European Commission has unveiled a set of initiatives aimed at boosting investment in clean energy, strengthening energy security and reducing electricity costs for households and industry.
The measures focus on increasing investment in domestic clean energy technologies, expanding energy infrastructure and reducing Europe’s reliance on imported fossil fuels.
As part of the plan, the Commission will introduce a Clean Energy Investment Strategy designed to mobilise private capital for electricity grids, innovative clean energy technologies and energy efficiency projects. The strategy will be implemented in partnership with the European Investment Bank, which plans to provide more than €75 billion in financing over the next three years.
The EIB Group is also expected to commit up to €500 million to a Strategic Infrastructure Investment Fund aimed at supporting key energy infrastructure projects linked to the EU’s grids expansion plans.
The Commission also presented a Citizens Energy Package that includes measures to reduce energy bills and support households. These include faster switching between electricity suppliers, clearer billing information and measures aimed at addressing energy poverty.
In addition, the Commission released a strategy to support the development of Small Modular Reactors (SMRs). The plan aims to enable EU member states to deploy the first operational SMRs in the early 2030s and to strengthen Europe’s nuclear supply chain.
To support early deployment of new nuclear technologies, the Commission said it may allocate an additional €200 million from the Innovation Fund through the InvestEU Programme to provide financial guarantees for initial commercial projects.
The initiatives form part of the EU’s broader efforts to modernise its energy system, improve competitiveness and expand renewable energy while keeping energy costs affordable.
