List of Projects of Common Interest adopted
Today, the European Commission has adopted a list of 248 key energy infrastructure projects. These "projects of common interest" (PCI) will benefit from accelerated planning procedures (e.g. a 3½ years' time limit for granting of permits) and improved regulatory conditions with costs allocated to the countries that benefit most from a completed project.
PCIs may also 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 facilitate faster implementation of the PCIs and make them more attractive to investors.
Completed projects will help Member States to integrate their energy markets, strengthen their security of supply by diversification of energy sources and help bring an end to any energy isolation.
However, today's list is only the first step. A long-term infrastructure vision for Europe and beyond its borders is set out in a Communication, which has also been adopted today, together with the PCI list.