New toolkit introduced by the energy infrastructure package
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The European Commission has recently estimated the investment needs in energy (electricity and gas) infrastructure of European importance to be about 200 billion up to 2020 . The Commission has also stressed that, under a business as usual scenario, almost half of these investments are at risk of not being delivered in time or at all, leaving a gap of about 100 billion. The main identified obstacles are problems related to permit granting, regulatory issues and financing; and those cannot be fully overcome by the existing measures. In this context, the European Commission has proposed an Energy Infrastructure package, which we introduce in this presentation.
New toolkit introduced by the energy infrastructure package
- 1. New toolkit introduced by the Energy Infrastructure Package (EIP) FSR Executive Seminar March 8, 2013, Florence Leonardo Meeus
- 2. New toolkit Introduction Why a new toolkit? 1. Focus 2. Coordinate 3. Accelerate 4. Finance Why a package? 2011/0300 (COD): Regulation on guidelines for trans-European energy infrastructure 2011/0301 (COD): Regulation laying down general rules for the granting of Community financial aid in the field of the trans-European transport and energy networks 2011/0302 (COD): Regulation establishing the Connecting Europe Facility www.florence-school.eu 2
- 3. New toolkit 1. Focus Existing toolkit New toolkit Union-wide list of Projects of Common Interest (PCI) EU labels (550 projects) Note that Projects of common interest New policy is not necessarily more Priority projects focused Projects of European But, it will be more transparent why interest (42 projects) policy focuses on certain projects and not others Single CBA method will be developed for that purpose www.florence-school.eu 3
- 4. New toolkit 2. Coordinate Existing toolkit New toolkit Enhanced TYNDP Including all PCI candidates (also third party projects) 10-Year Network Using the single CBA method Development Plan (TYNDP) Regional Groups Northern Sea offshore grid North-South electricity interconnections in Western Europe North-South electricity interconnections in Central Eastern and South Eastern Europe Baltic Energy Market Interconnection Plan in electricity www.florence-school.eu 4
- 5. New toolkit 3. Accelerate Existing toolkit New toolkit European Coordinators National one stop shops Procedure with deadlines for permit granting process Procedure with deadlines for cost European allocation process Coordinators Process towards guidelines for regulated investment incentives www.florence-school.eu 5
- 6. New toolkit 4. Finance Existing toolkit New toolkit More EU funding Energy EUR 20M per year Energy 9,1B 2014-2020 proposed by EC, meanwhile reduced Improved leverage of EU funding Grants Innovative financial instruments Project Bond Initiative Risk capital for PCIs Improved use of EU funding Evaluation reports Connecting Europe Facility centralizes the available financial instruments at EU level www.florence-school.eu 6
- 7. New toolkit Conclusions There are new tools to Focus: CBA method Coordinate: enhanced TYNDP; Regional Groups Accelerate: national one stop shops; procedure with deadlines for permit granting and cost allocation; guidelines for regulated investment incentives Finance: innovative instruments These tools will apply to most projects TYNDP includes 100 projects, and we could easily have up to 100 PCIs Possible side-effect of this package New actors in transmission investments www.florence-school.eu 7
- 8. Thanks for your attention http://think.eui.eu; leonardo.meeus@eui.eu www.florence-school.eu 8