Laura Otýpková
Lawyer and Head of the Responsible Energy Team
Frank Bold participated in the preparation of a new report examining the changes underway in the European energy sector and the need to modernize electricity grids to accommodate more renewable energy sources with emphasis on Central and Eastern Europe (CEE).
The report, led by Climate Action Network Europe, finds that aging electricity infrastructure in Central and Eastern Europe is limiting the integration of renewable power like wind and solar. About a third of Europe’s low voltage grid is over 40 years old and often unable to handle two-way power flows from distributed energy resources. This has resulted in renewable energy projects being denied connection or facing high costs due to grid upgrades.
To fully realize the benefits of the clean energy transition, the report recommends governments prioritize upgrading grids, ensure regulations that allow system operators to procure flexibility services, and empower small renewable projects and energy communities. It also calls for greater regional cooperation on grid planning and cross-border interconnections.
“The study addresses one of the main sore points of the current energy transition in the CEE - the state of our grids - not only describing the current situation, but more importantly offering recommendations on how to improve it. In the Czech Republic improving grid capacity will be especially important as new rules allowing electricity sharing in energy communities take effect in 2024," says Jan Bakule from Frank Bold.
If Central and Eastern European countries act on the report's recommendations, they could accelerate deployment of renewable energy and position themselves as leaders in developing modern, decentralized and climate-friendly power systems. Upgrading electricity networks is essential to cut fossil fuel dependence and meet European Union climate and renewable targets.
You can find the interactive infographic with the report's recommendations here and also read the full report here.
The European Commission recently introduced a draft of the revised EU ETS Directive which, among other things, proposes that 100 % of ETS revenues should be used for environmental measures. We welcome this idea but we’re also sceptical about how the ETS revenues are used in the Czech Republic. Therefore, we have prepared an analysis mapping the use of ETS revenues in Czech Republic and sent it to the European Commission as an input for the recent public consultation. The main conclusions are presented below.
We have analysed hundreds of pages of technical documents and prepared a comprehensive overview of the sustainability reporting requirements under the forthcoming EU legislation. We summarise what ESG data will be critical for companies, banks, and investors in sustainability strategy and management and in the areas of climate change, environment, sustainable activities, employees and supply chains, due diligence, and anti-corruption measures.
Would you like to influence key EU developments on business, sustainability and climate change? Do you wish to combine environmental and economic perspectives? Do you want to help set European standards for transparency of corporate sustainability performance and help investors finance the transformation of our economy? Become a member of Frank Bold’s international team implementing this strategy.
