Updated rules for selecting energy projects to be boosted by EU funds were formally agreed with the Slovenian Presidency of the European Council on Tuesday.
The draft law sets out criteria and methodology for the selection of energy projects of common interest (CSR), such as high-voltage transmission lines, pipelines, energy storage facilities or intelligent networks, which will benefit from rapid administrative procedures and will be eligible. for EU funding, as the European Parliament states in a communication.
It is noted that during the negotiations, MEPs supported, inter alia, the financing of the development of hydrogen infrastructure, such as electrolytic cells, as well as the commitment and storage of carbon dioxide. Eligible projects should also promote market integration and increase security of supply, in line with the agreed text.
The selected projects should help EU countries move away from solid fossil fuels such as coal, lignite, peat and petroleum shale. Parliament has also secured funding for projects reorganizing existing gas infrastructure for the transport or storage of hydrogen during a transitional period: these projects will be eligible for EU financial support until 31 December 2027.
MEPs also ensured greater stakeholder involvement in the cross-border CSR planning and selection process, as well as wider representation of different sectors in the consultation. They also pushed for the strengthening of offshore renewable energy projects and the facilitation of their integration into EU networks, with a view to achieving the EU’s targets of climate neutrality and the 300 GW target.
End of the energy isolation of Cyprus and Malta
Gas-based projects will no longer be eligible for EU funding. However, a temporary derogation will allow Cyprus and Malta to receive project funding by country, with a view to completing their connection to the energy grid. severely restricted and provided that it can be converted to hydrogen transport.
MEPs reiterate that eligible projects must comply with the “energy efficiency priority” principle, which states that energy savings are the easiest way to save money for consumers and reduce greenhouse gas emissions. The cost of the projects should ensure that consumers are not disproportionately burdened, especially if this could lead to energy poverty.
Finally, the legislation will not affect a country’s right to determine how to use its energy resources and to determine its own energy mix.
Statements
“We have reached a balanced agreement in line with Parliament’s mandate, which not only improves the infrastructure design process, but also pushes for new types of projects of common interest in relation to climate objectives. The new TEN-E framework will encourage “Investments in hydrogen and carbon dioxide networks, as well as the development of offshore networks,” said Zdzisław Krasnodębski (Conservative, Poland).
Next steps
The informal agreement will now have to be formally approved by Parliament and the Council to enter into force. The EP Committee on Industry, Research and Energy will vote on the text at a forthcoming meeting.
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Source From: Capital
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