The European Commission has now set the direction for a new approach to energy policy through sector-based tripartite agreements. The aim is to ensure European industry access to affordable and stable energy in a time of high energy prices and global uncertainty. The first agreements planned by the Commission will cover offshore wind, power grids and energy storage.
The idea of tripartite agreements was presented in February as a central part of the Affordable Energy Action Plan. But during a visit to Avedøre power plant on Thursday – in connection with the informal energy ministers’ meeting in Copenhagen – Energy and Housing Commissioner Dan Jørgensen (S) announced the concrete measures for the first time. Here he announced that the Commission will take the initiative for two sector-based agreements: one for offshore wind and electricity grids – and one for energy storage.
- Tripartite agreements represent an innovative solution: a joint and coordinated approach to meeting these challenges, said Dan Jørgensen in a speech during the visit to the Avedøre power plant.
The tripartite agreements will bring together three groups of actors: energy producers and their supply chains, energy-intensive companies and national and European authorities – with support from financial institutions such as the European Investment Bank.
- Energy producers need stable and predictable demand to support their investments, says Dan Jørgensen
The first planned agreement will focus on the expansion of offshore wind and electricity grids. According to the EU countries' own ambitions, the total offshore capacity could reach 88 GW by 2030 and 360 GW by mid-century. For comparison, this corresponds to the current electricity capacity of Germany, Poland and Greece combined. The agreement will, among other things, create a better framework for coordinating grid infrastructure.
The second agreement will deal with energy storage. According to Dan Jørgensen, the Commission estimates that the EU will need approximately 200 GW of storage capacity by 2030. The initiative will create investment security for technologies that can balance the electricity grid and support the integration of renewable energy.
The two initiatives are the first steps in a broader strategy, in which the Commission is examining the possibilities for similar cooperation in areas such as biomethane, energy efficiency, nuclear power and data centres. The aim is to establish a long-term framework for investments in the entire energy system and strengthen the EU's industrial competitiveness.
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