EU Unveils Plans for 'Energy Highways' to Prevent Price Hikes

The European Commission, led by Ursula von der Leyen, plans to propose initiatives aimed at facilitating free electricity flow across the EU. This move seeks to prevent price hikes by targeting bottlenecks in energy infrastructure, like the Pyrenees and Sicilian Canal, with a 'European Grids Package' due by year-end.

The European Commission is set to unveil initiatives designed to enable the easier flow of electricity across the European Union, as announced by its President, Ursula von der Leyen.

This development aims to curb price increases in the energy sector by introducing strategic 'energy highways'. Von der Leyen shared this during a conference focused on EU competitiveness, revealing plans for a comprehensive package concerning energy grids.

The forthcoming European Grids Package, expected by year's end, will tackle critical infrastructure bottlenecks, including areas from the Pyrenees to the Sicilian Canal, utilizing funding to address specific challenges where necessary.

(With inputs from agencies.)