The electricity trade association Eurelectric is calling on the European Union to update its energy security strategy to reflect the growing importance of electricity in modern life. The current strategy, last revised in 2014, is now outdated as Europe faces new challenges in securing its power supply.
The sharp rise in energy costs following Russia’s invasion of Ukraine and recent incidents of suspected sabotage on undersea power lines have exposed serious weaknesses in Europe’s electricity infrastructure. Eurelectric President Leonhard Birnbaum has urged EU policymakers to place energy security at the top of their agenda, warning that without swift action, Europe could face severe disruptions in its electricity supply.
Electricity Gains Importance at Munich Security Conference
Birnbaum presented a new study by Compass Lexecon at the Munich Security Conference, a forum where energy discussions have traditionally centered around oil and gas. His presentation highlighted the fact that electricity is poised to become the dominant energy source of the future, underscoring the urgent need to ensure the resilience and security of Europe’s power grid.
“Electricity security is no longer a secondary issue—it is the foundation of our future energy system,” Birnbaum stated. He emphasized that while geopolitical tensions, particularly the war in Ukraine, remain a major concern, EU leaders must also recognize the vulnerabilities within their own power infrastructure.
Cybersecurity and Supply Chain Risks Demand Immediate Attention
Eurelectric has identified cyberattacks as the most pressing risk to Europe’s power grid, surpassing even the threats of physical sabotage or military conflict. As power networks become increasingly digitalized, they are more vulnerable to cyber intrusions that could potentially cripple essential services.
The European Union has set a goal to phase out Russian fossil fuel imports by 2027. However, despite this ambitious timeline, there is currently no updated energy security strategy in the European Commission’s 2025 work program. This oversight raises concerns about the EU’s preparedness to deal with emerging energy security challenges.
In addition to cyber threats, Eurelectric has pointed to growing risks in supply chain disruptions, particularly in securing critical raw materials like lithium, which is essential for battery storage and electric vehicles. As global trade tensions escalate, ensuring access to these materials has become a strategic necessity.
Renewable Expansion Faces Bureaucratic Challenges
The EU has set ambitious renewable energy targets, aiming to nearly double its wind and solar capacity by 2030. However, these plans are being hindered by slow bureaucratic processes that delay the approval and construction of renewable projects.
Giles Dickson, CEO of WindEurope, has highlighted Germany’s recent success in streamlining wind farm approvals as a model for other EU nations. He urged policymakers to remove unnecessary regulatory hurdles that slow down renewable energy expansion.
Despite the push for increased domestic energy production, Birnbaum dismissed any possibility of returning to coal as a viable energy source. “The transition to cleaner energy is already in motion, and economic and technological advancements make coal an unfeasible option for the future,” he stated.
Strengthening Europe’s Energy Security for the Future
The vulnerabilities in Europe’s power supply are a stark reminder of the urgent need for an updated energy security strategy. As the EU moves toward a more electrified future, securing the grid against cyber threats, diversifying energy sources, and ensuring stable supply chains must be top priorities.
Eurelectric’s call for action comes at a critical time when European leaders must make decisive choices to safeguard the continent’s power infrastructure. A comprehensive energy security plan will be essential to ensuring that the EU can withstand future shocks and maintain a reliable, affordable electricity supply for its citizens.
For more updates on Europe’s energy policies and market trends, visit Wealth Magazine.