EU countries scale back plan to fund power grids, document shows
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Governments have cut back the European Union's proposal to spend national funds on the bloc's energy infrastructure after Sweden threatened to restrict power exports over the plan, an internal negotiating document seen by Reuters showed.
The spat concerns a proposed EU law to raise funds for large cross-country energy infrastructure projects, like interconnectors, which are needed to integrate more renewable energy into the network and meet rising power demand from data centres and other sources.
The European Commission proposed in December that 25% of unused congestion revenues collected by power grid operators would be earmarked to fund EU-backed projects.
EU countries negotiating the legal proposal have cut that back, so that national operators would not have to hand over any congestion revenues collected from power trade within their country, their latest compromise proposal showed.
The draft proposal would also cut the share of cross-border congestion income earmarked for EU-backed projects to 10%, which would rise gradually to 25% by 2030.
Source: Wikipedia