National associations and chief executives from all major power companies in Europe have agreed on a Vision Declaration that commits the sector to accelerate clean energy transition while supporting Europe’s decarbonization efforts, the Union of the Electricity Industry (EURELECTRIC) announced Wednesday.
According to the announcement, sector leaders have committed to take action for a climate-friendly society and economy and to achieve a competitive reliable carbon-neutral electricity mix in the EU well before the mid-century.
With the new vision, 'the sector strengthens its commitment to invest in clean power generation and other transition-enabling solutions and, importantly, to help accelerate CO2 emission reductions in other sectors through increasingly efficient use of clean electricity,' the announcement read.
Magnus Hall, CEO of Vattenfall and vice-president of EURELECTRIC said that electrification of heating, transport and industry is a win-win situation as it comes with higher efficiency and lower CO2 emissions.
'Therefore we should do everything possible to advance electrification with smart regulation,' he added.
The rise of digital solutions and decentralized generation technologies has been center stage in discussions over the new vision. They are widely believed to have profound impacts on the organization of the sector and on relations between companies and customers.
The Union of the Electricity Industry, EURELECTRIC, is the sector association representing the common interests of the electricity industry at pan-European level.
EURELECTRIC represents 3,500 companies across Europe with an aggregate turnover of €200 billion.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr