The next step is for the provisional agreement to be formally adopted by the EP and the Council.
On 07 March, during a late night trilogue session, negotiators from the EP, the Council, and the EC reached a provisional agreement on the Connecting Europe Facility for the 2021-2027 period. According to the EC, the new CEF (CEF2) will make “energy systems better interconnected, smarter and safer, and will help complete the Energy Union and support the clean energy transition”.
Additionally, CEF2 will prioritise environmentally friendly transportation, such as rail and the development of charging points for EVs, and will also provide financing to strategic digital connectivity infrastructure such as 5G.
According to the Commissioner for Climate Action and Energy, Miguel Arias Cañete, the “agreement will enable [the EU] to build the infrastructure needed for the clean energy transition and help achieve the ambitious 2030 climate and energy targets. The enhanced CEF2 will be crucial to further integrate the energy market, help the penetration of RES and increase security of supply.”
CEF supports projects through grants and has so far supported 688 projects representing a total amount of €22,9 billion.
The provisional agreement now needs to be formally adopted by the EP and the Council. The budget for CEF2 is subject to the overall agreement on the EU’s next long-term budget that was proposed by the EC in May 2018.