Media: 565 billion euro plan for digitalization of the EU energy system is being prepared

MOSCOW, Sep 23 — PRIME. The European Commission will propose a plan for the digitalization of the EU energy system for 565 billion euros, Bloomberg reports with reference to the draft document.

The Energy System Digitization Action Plan, which will be unveiled by the European Commission next week, will require €565 billion in infrastructure investment by the end of the decade to implement environmental plans and end dependence on Russian fossil fuels.

According to the proposal, the EU aims to promote the exchange of data on electricity use starting in 2024 to help increase the flexibility of the region’s energy markets, for example by allowing solar panels and electric vehicles to return energy to the grid.

According to the document, the region needs to install solar panels on the roofs of all commercial and public buildings by 2027 and on all new residential buildings by 2029, as well as install 10 million heat pumps over the next five years and put 30 million zero-volt vehicles on the roads. emissions by 2030.

The commission is set to publish a document on September 28, citing EU diplomats, that details steps to reduce volatility and increase trading volume in energy markets after rising prices led to a sharp increase in margin requirements, in addition to measures which the block can accept to reduce fuel prices.

It is noted that on September 30, energy ministers are to discuss proposals to impose an excess profit tax on low-cost electricity producers and reduce demand for electricity, especially during peak hours.

After the start of the Russian military operation in Ukraine, the West stepped up sanctions pressure on Moscow, which led to an increase in prices for electricity, fuel and food in Europe and the United States. Russian President Vladimir Putin said that the policy of containment and weakening of Russia is a long-term strategy of the West, and the sanctions dealt a serious blow to the entire global economy.