The Letta report: What’s in the box for Europe’s energy sector

(EurActiv, 18 Apr 2024) A deepening of Europe’s Energy Union is a key priority, along with several targeted recommendations on how to transform Europe’s energy sector, according to a report by former Italian Prime Minister Enrico Letta, set to be presented to EU leaders on Thursday (18 April).

National governments and the European Commission tasked Letta to prepare the report, and it is expected to have a large influence on the EU’s political direction after the June elections.

Europe’s energy market and infrastructure are a key focus, with Letta declaring that “the Single Energy Market can well be Europe’s best asset to ensure its success in a novel global order.”

The report makes specific recommendations which, if implemented, would dramatically reshape parts of Europe’s energy sector.

Cross-border joint auctions for additional renewable energy

The report says neighbouring EU countries should start holding cross-border auctions for additional renewable generation to achieve efficiencies and reduce costs.

It also encourages “cross-border flexibility schemes,” in which power grid managers turn to generators in neighbouring countries for help when local electricity demand is high.

Grid expansion 

Many voices across Europe call for a massive expansion and reinforcement of Europe’s grids and Letta maps out how strengthened European coordination and funding can help deliver on this vision.

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EurActiv, 18 Apr 2024: The Letta report: What’s in the box for Europe’s energy sector