National associations and Chief Executives from all major power companies in Europe, namely EDP, have agreed a Vision Declaration that commits the sector to accelerate the clean energy transition, taking a leading role in Europe’s decarbonisation efforts towards the Paris Agreement.

Sector leaders have all committed to take action to support the economy-wide shift to an efficient climate-friendly society and achieve a competitive reliable carbon-neutral electricity mix in the EU well before mid-century.

The announcement follows a comprehensive consultation process, which engaged company CEOs and industry representatives from across Europe. The final declaration received unanimous support at its adoption. It demonstrates the unwavering commitment from the power sector to play a key role in the transition to a sustainable, smart and energy efficient society.

EURELECTRIC’s Secretary General, Kristian Ruby, expressed satisfaction that the entire sector supports the vision, but also pointed out that delivering it will require further collective efforts: “The commitment and ambition expressed in this vision is challenging, especially for regions which depend on high carbon value chains. We therefore call on policymakers to do their utmost to ensure a fair and responsible transition, both socially and geographically, and provide the necessary support and funding to address any socio-economic impacts,” Ruby said.

Following the adoption of this vision declaration, the European electricity sector will launch several projects in the coming years aimed at identifying the challenges and opportunities of an accelerated clean energy transition. As the sector embarks on its journey it will engage stakeholders and communities across the entire European economy on these projects.

Check here the document Vision of the European Electricity Industry.

Visit EURELECTRIC's website.