Press conference by Günther Oettinger on the list of projects of common interest (PCI) relating to Energy Infrastructure
On 14 October 2013, Günther Oettinger, Member of the EC in charge of Energy Commission, presented, during a press conference, a list of "projects of common interest" in energy infrastructure adopted by the European Commission. The European Commission adopted a list of some 250 key energy infrastructure projects. These "projects of common interest" (PCI) will benefit from accelerated licensing procedures and improved regulatory conditions and may have access to financial support from the Connecting Europe Facility, under which a €5.85 billion budget has been allocated to trans-European energy infrastructure for the period 2014-20. This will help them get implemented faster and make them more attractive to investors. Once completed, the projects will help Member States to integrate their energy markets, enable them to diversify their energy sources and help bring an end to the energy isolation of some Member States. They will also enable the grid to uptake increasing amounts of renewables, and consequently help reduce CO2 emissions.