A modern energy infrastructure is crucial for integrating the European energy market and achieving energy and climate targets. The European Commission estimates that some 200 billion euros in investment will be needed over the next ten years.
On 6 June 2018, the European Commission proposed a budget of €8.7 billion to support investment for the period 2021-2027. A modern, networked energy grid should enable a higher share of energy from renewable sources and lower costs for companies and households. The Commission subsidises a wide range of projects, particularly in electricity and gas, from phase shifters, smart grids, CO2 disposal, high-voltage and gas pipelines, electricity and gas storage facilities to LNG reception terminals.
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