Leaders from industry bodies and power companies across Europe have agreed a declaration that commits the sector to accelerate the clean energy transition.

They have committed to take action to support the economy-wide shift to an efficient climate-friendly society and "achieve a competitive reliable carbon-neutral electricity mix in the EU well before mid-century".

“Our industry sees a great opportunity on the path towards a progressively decarbonised and fully sustainable European energy future," said Francesco Starace, president of the Eurelectric industry body and CEO of the Italian energy group Enel.

"Electricity is playing a growing role in making this vision happen and Eurelectric will lead this transformation. This announcement shows how together we are determined to accelerate the energy transition through a progressive electrification of Europe’s energy consumption while making the European power sector carbon-neutral well before mid-century."

Strengthening of commitment

The organisation said the new vision strengthens the sector's commitment to invest in clean power generation and other transition-enabling solutions.

“The investment required in clean electricity and transition-enabling technologies is huge. This statement reflects our full commitment to invest in innovation, to build new cross-sector business models, and ensure that electricity keeps creating value in decades to come,” said Alistair Philips-Davies, CEO of SSE and Vice-President of Eurelectric.

The announcement follows a comprehensive consultation process, which engaged company CEOs and industry representatives from across Europe.

The final declaration received unanimous support at its adoption which Eurelectric said “demonstrates the unwavering commitment from the power sector to play a key role in the transition to a sustainable, smart and energy efficient society”.

Following the adoption of the vision declaration, the European electricity sector will launch several projects in the coming years aimed at identifying the challenges and opportunities of an accelerated clean energy transition.

As the sector embarks on its journey it will engage stakeholders and communities across the entire European economy on these projects.

> Read the group's announcement