France and Sweden push to kill mechanism to pay for massive EU grid upgrades

(Ben Munster and Nicolas Camut – Politico) France and Sweden want to block a new proposal that would force countries to share the cost of major upgrades to the European Union’s electricity network, arguing it will hand them an unfair financial burden. The European Commission’s grids package, announced last December, seeks to massively expand the EU’s electricity grid so it can more efficiently carry renewably generated power across the continent. The upgrade is seen as an essential step on the EU’s path to net-zero greenhouse gas emissions by 2050. The plan includes a proposal to share income from domestic networks in a common, EU-wide pool. The idea as is that wealthier countries with developed electricity systems would help bankroll countries with less-developed grids. – France and Sweden push to kill mechanism to pay for massive EU grid upgrades – POLITICO