Eurelectric: Double investment in power distribution or lose Europe’s race toward decarbonization

Brussels – Distribution networks in Europe urgently need modernization to enable the massive electrification of transport, heating systems, and industry, to integrate renewable energy, and to cope with extreme weather events and increasingly frequent cyber attacks. According to Eurelectric’s new study, Grids for Speed, investment in distribution networks will increase from the current average of €33 billion to €67 billion per year from 2025 to 2050, about 20 percent of what the EU spent on fossil fuel imports in 2023.

According to the association, a grid in step with the transition can significantly reduce fossil fuel imports, create more than 2 million jobs, increase energy savings, and make energy supply more reliable while accelerating the decarbonization of the European economy,