European Utilities Pitch For 35% EU RE Target

Six Large European Utilities Sign Letter Urging European Union Policy Makers To Increase 2030 Renewable Energy Target To 35% From Currently 27%
02:16 AM (Beijing Time) - 08. November 2017
n_mar_Europe_European Utilities Pitch For 35 EU Target

Six leading European utilities have asked European policy makers to aim for a more ambitious 2030 renewable energy target in the European Union. The signatories of the letter are EDP from Portugal, Enel from Italy, EnBW from Germany, Iberdrola from Spain, Orsted from Denmark and SSE from the UK.

Key Takeaways

  • Six European utilities have signed a letter asking the European Union to increase its renewable energy target for Europe
  • The 2030 target should be increased from the current 27% proposed by the European Commission to 35%
  • The utilities suggest the higher target could be achieved through increased electrification of transport and heating sectors and redesigning electricity market fit for renewables
  • The signatories of the letter are EDP from Portugal, Enel from Italy, EnBW from German, Iberdrola from Spain, Orsted from Denmark and SSE from the UK

Six leading European utilities have asked European policy makers to aim for a higher 2030 renewable energy target in the European Union.

“The proposed EU binding target of at least 27% share of renewable neergy in EU final consumption by 2030 lacks and ambition and would slow-down the current rate of renewable deployment in the EU, affecting industrial value chains and putting at risk the gains and competitive advantage achieved in the past decade,” the utilities said in their letter.

“We urge EU policy makers to endorse an Eu-wide binding target of 35% share of renewables in EU final energy demand by 2030, to be achieved through increased electrification of transport and heating sectors, together with a redesigned electricity market,” they stated.

Their rationale is simple. “Thanks to the significant cost reductions realized over the last few years, renewables are now the most competitive option for new power generation in Europe,” the utilities said, adding, “We are firmly convinced that through strong cooperation with other sectors an ambitious renewable energy target is within reach since there is now energy carriers that can decarbonise to the same extent and scale as electricity.”

The signatories of the letter are EDP from Portugal, Enel from Italy, EnBW from German, Iberdrola from Spain, Orsted from Denmark and SSE from the UK.

With this letter, the utilities have clearly put their weight behind the momentum that has been echoing for quite some time from some progressive energy stakeholder in Europe. The call comes after members of the European Parliament (MEPs) proposed the same idea to increase the share of renewables in its energy consumption in 2030 to 35%. The EU institutions are currently discussing a comprehensive legislative package called ‘Clean Energy for all Europeans’ on market design and targets for the EU energy market from 2020 to 2030.

SolarPower Europe, the lobby association of the European solar sector, was the first to ask for a 35% target. In the meantime, other renewable lobby associations have followed, such as Wind Europe. SolarPower Europe said in a newly published report on solar jobs that increasing the RE target to 35% is likely to see job creation in the PV segment go up by 56% (see 35% RES Target May Increase PV Jobs By 56% In EU).

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani