European electricity trade body Eurelectric has released a set of policy recommendations for a smooth and efficient recovery of the power sector from the COVID-19 pandemic.
A study by Eurelectric throughout the lockdown period shows that the entire electricity value chain was affected by the measures taken to limit the spread of the virus.
The Brussels-based group’s recommended policies address the necessary measures for tackling the negative impacts of lockdowns on several segments of the electricity value chain, including generation, distribution grids, markets, as well as retail and customer services.
To reset its activity and accelerate the clean energy transition, the power sector has called for:
- The establishment of concrete measures for ramping up the deployment of zero carbon infrastructure projects, as well as for closely monitoring the risk of shortage of critical materials and of skilled workforce (i.e. construction and maintenance) via the national recovery plans;
- Stimulating capital-intensive investments in carbon-neutral generation through an efficient framework that provides long-term visibility and certainty;
- Supporting the electrification of buildings and transport, while paving the way for ambitious skilling objectives for workers, through the Renovation wave initiative;
- Enabling entrants to the labour market to be equipped with the right skills and provide access to adequate reskilling and upskilling for experienced employees, particularly in digital and new technologies;
- The preservation of the financial capacity of distribution grids and the mitigation of economic risks for electricity suppliers, as they have been directly impacted by the break on bills and delayed payments.
The full list of recommendations, built on responses provided by the majortity of Eurelectric’s members, is available here.
For more on how the power sector can survive current speculation and identify where the opportunities lie for investors in a post-pandemic, renewables-powered economy, take a look at the below interview.