The EU is investigating if any of its rules were broken by the decision of countries in the Balkan region to stop exporting power during the cold snap last month.
Maros Sefcovic, vice-president of the European Commission in charge of the Energy Union, yesterday hailed energy storage as capable of unleashing the full potential of the energy infrastructure of the future.
Europe is set for EUR40bn in investment in order to build a new power infrastructure and ultimately save the bloc billions of euros each year.
In a first move toward realizing its new Energy Union strategy, the European Commission has launched a €100m (£110m) initiative aimed at connecting the EU’s power networks.
UK Energy Minister Andrea Leadsom has said that the European Union’s Energy Union “should not be a straitjacket for Member States in how they determine their own energy mix”.
BDEW, the German energy industry association, says there is potential for 53 per cent of 39 power plants scheduled to be built in Germany over the next decade to be cancelled.