Towards a Single European Energy Market

Towards a Single European Energy Market

Editorial Staff
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263 million euros to achieve the European energy union. Among the priorities: safer infrastructure and increased use of renewables

Electricity, gas and safeguarding are the main areas of intervention contained in the new European energy efficiency program and in the Connecting Europe Facility (CEF), the mechanism of direct funding for connecting up Europe. The figure of 263 million euros has been allocated to fund energy development projects and strategic infrastructure that will allow Europe to achieve full energy integration. The European Commission has prioritised interventions for safeguarding the infrastructure, the efficiency of grids, and sustainability through a more efficient use of resources, to include renewable energy sources. For the gas sector, the EU grants will cover the construction of the Balticonnector, the pipeline connecting Estonia and Finland, with some 187.5 million euro. In turn in the energy field a new distribution line will cover the distance of 100 km between the cities of Dobruja and Burgas in Bulgaria, at the cost of an estimated 30 million euros. A total of 9 projects will be funded, 5 in the gas sector and 4 in the electrical sector, covering construction work and studies. Already at the end of June up to 600 million euros of investment had been announced for actions to improve the safeguarding of EU's energy supply, increase competitiveness and contribute to sustainable development and environmental protection. The deadline for submitting proposals is November 8th, 2016. Overall EU funding for energy infrastructure under the CEF for the period 2014-2020 amounts to 5.35 billion euros.