The European Commission proposed today a new regulation that would improve gathering of information about started or planned investment project in energy infrastructure. The idea is for full transparency so that a risk of infrastructure gaps can be avoided over the coming years, similar to those that surprised not only the EU but Bulgaria as well during the January gas crisis when it proved that Bulgaria has only one single possibility to supply its industry and households with gas - through Ukraine. This also means that the Commission will follow closely whether planned infrastructure has really been constructed.

The new regulation would cover all kinds of investment projects into oil, gas, electricity (including nuclear electricity) and biofuels infrastructure within the EU and into transport and storage of CO2 produced by energy production. The proposal also covers investments in Renewable Energy Sources, explained for euinside the spokesman of the Commissioner on energy issues Mr. Ferran Tarradellas. Member States and industry will be obliged to notify data and information to the Commission, which will analyse investment trends. And sometimes, on a case by case basis, it will issue recommendations, Mr. Tarradellas added.

The proposal is a complement to the EU initiative for further development of the internal market of energy for which €3.98 billion has been approved for investment into energy infrastructure in the context of the European Economic Recovery Plan. Besides, by 2030, it is estimated that up to €1 trillion will have to be spent on the EU’s electricity network and generation capacity, and €150 billion on gas networks - excluding import pipelines from third countries.