Financing mechanisms for the energy sector: Ensuring a fair transition for all Member States
Climate neutrality translates into commitments undertaken by various industries, communities and other stakeholders. The European energy sector is already committed to be carbon neutral before 2050.
However, some countries are already fully decarbonised in terms of power generation, while others have to overcome structural preconditions and redefine their entire energy system. For example, Poland is one of the most coal-reliant EU countries, still needing adequate mechanisms to address the challenges ahead.
New EU funding under the next Multiannual Financial Framework for 2021—2027 as well as external investment sources bring opportunities for a successful climate transition. Nevertheless, a just energy transition remains a challenge due to the sheer scale of investments required across Europe. Getting the financing right will determine whether emerging business opportunities become socially sustainable and economically viable over time.
Join this EURACTIV Virtual Conference to discuss how the right financing mechanisms can boost the energy transition to help the EU deliver a green and sustainable recovery for all its regions and consumers. Questions will include:
- How to ensure the transition does not end up costing consumers twice - rising CO2 prices and new sustainable investments?
- Should increasing the ambition of reaching higher climate targets imply proportionally increased funding?
- How to make sure that no EU region is left behind in the energy transition?
- How to ensure financing to replace ineffective fossil fuels while maintaining the stability of the power system?
- Are existing EU funding mechanisms sufficient or do we need new ones to cover any remaining investment gaps?
Kadri Simson , European Commissioner for Energy
Christopher Hurst, Director General, Projects Directorate, European Investment Bank (EIB)
James Watson, Secretary General, Eurogas
Jorge Nunez Ferrer, Associate Senior Research Fellow, CEPS
Wojciech Dabrowski, CEO, Polska Grupa Energetyczna (PGE)
Frederic Simon, Energy Editor, EURACTIV
10:00 – 10:05 Welcome
10:05 – 10:25 Keynote Speeches
10:25 – 10:40 Opening statements from speakers
10:40 – 11:30 Discussion and Q&A
+32 (0)2 788 36 86
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30% of the EU's €1.8 trillion budget and recovery plan for 2021-2027 will be made available for the green transition. That amount is no longer up for negotiation and the focus must now shift to spending it well, said Kadri Simson, the EU's energy commissioner.