A coalition of 19 European energy associations and transmission system operators has urged the European Union and UK governments to enhance electricity market arrangements between the European Internal Energy Market and Great Britain. The call aims to boost investment in offshore wind generation and grid infrastructure in the North Sea region.
The coalition's joint letter highlights the need for more efficient electricity trading between the UK and the EU to support the development of a European green power hub in the North Seas.
RenewableUK CEO Dan McGrail emphasized the importance of this cooperation, stating, “We are pleased to support this letter and see such a strong consensus from across the industry for transforming the North Seas area into a European green power hub.”
McGrail further underscored the need to address challenges related to linking the EU and UK Emissions Trading Schemes and extending European price coupling to the UK market.
He emphasized that these steps, along with improving the offshore grid development framework, are essential to unlocking the full potential of the North Sea's renewable energy projects.
Achieving this integration would not only benefit consumers and the energy sector but also help the UK, EU, and the wider European Economic Area meet their climate and energy targets.
