EU to fast-track construction of cross-border power connections

Energy Highways plan is intended to improve network efficiency, cut prices, and reduce the EU’s reliance on imported fossil fuels

Fixing the system by investing more in grids — including eight cross-border electricity projects — could generate €40bn a year in cost savings. Picture: Howard Crowdy

The EU’s executive arm will seek to accelerate the construction of cross-border power grids, warning that years of underinvestment and fragmented planning is pushing up energy bills.

The European Commission is set to propose fast-tracking the Energy Highways project to improve network efficiency, cut prices, and reduce the region’s reliance on imported fossil fuels, according to a draft document seen by Bloomberg News.