Category: 3. Business

  • Despite ad bans, young children frequently see junk food promotions on YouTube and YouTube Kids

    Despite ad bans, young children frequently see junk food promotions on YouTube and YouTube Kids

    There’s a new star in your child’s favorite YouTube videos: junk food. 

    Messages promoting candy, sugar-sweetened drinks, fast food, and sweet or salty snacks brands frequently appear during videos viewed by 3- to -8-year-olds on YouTube and YouTube Kids, according to a new paper from researchers at the UConn Rudd Center for Food Policy and Health.  

    This is the first study to measure young (ages 3 to 8) children’s actual exposure to food brands while watching YouTube or YouTube Kids videos of their own choice on their own mobile devices. To mimic their typical video viewing habits, 101 children used their own mobile devices to watch videos on the YouTube platform of their choice, YouTube or YouTube Kids, for 30 minutes in their own homes. 

    The study’s findings, published in the Journal of the Academy of Nutrition and Dietetics, found that 75% of 6- to 8-year-olds and 36% of 3- to 5-year-olds viewed promotions for unhealthy food and beverage brands, averaging 7 such messages during 30 minutes of video watching. Moreover, some 6- to 8-year-olds saw alcohol ads while watching YouTube videos.  

    The majority of food brand appearances (73%) promoted candy, sugar-sweetened drinks, fast food or other restaurants, and sweet or salty snacks. Healthy products (including water, plain milk, 100% juice) made up just 3% of appearances. Food and beverage brands appeared more often when children watched YouTube (60%) compared to YouTube Kids (36%). 

    “More than half of food brands in these videos came from companies that participate in the Children’s Food and Beverage Advertising Initiative, a U.S. food industry self-regulatory program,” says Jennifer Harris, Ph.D., Senior Research Advisor at the Rudd Center. “Despite these companies’ pledges to only advertise healthier choices to children, child-influencers frequently promoted their brands, including candy, sugary drinks and sweet and salty snacks.” 

    Children viewed food brand promotions while watching YouTube videos during video previews (i.e., thumbnails), accounting for 23% of brand appearances, and ads, accounting for 17%. However, more than 60% of food brand appearances were embedded within the video content. Lifestyle videos, primarily influencer videos, contributed 77% of these appearances and most (71%) showed the influencer or another character consuming or preparing to consume the product.

    The FTC has called on companies and social media influencers to discontinue these common stealth marketing practices that blur the line between entertainment and advertising, especially when aimed at young children. 

    “Very young children are being bombarded with unhealthy product promotion on YouTube and YouTube Kids, frequently embedded in their favorite videos as props or part of the storyline, which disguises persuasive intent,” says Frances Fleming-Milici, Ph.D., the study’s lead author and Director of Marketing Initiatives at the Rudd Center. “As children as young as age 3 spend more and more time on these platforms, policies must be enacted to protect them from this stealth marketing of products that harm their health.”  

    Currently, Google, YouTube’s parent company, bans food and beverage advertising on YouTube Kids and during “made-for-kids” videos (a subset of videos designated for children under age 13). However, over one-third of 3- to 8-year-olds who watched YouTube Kids, a channel specifically created for children, viewed food brand appearances embedded in videos and thumbnail images. Moreover, brand appearances in “made-for-kids” videos on the main YouTube platform contributed most of 3- to- 5-year-olds’ total branded food exposures. Therefore, watching YouTube Kids or “made-for-kids” videos does not protect children from exposure to stealth marketing promoting unhealthy food brands.

    In addition, not one video embedded with a food or beverage brand disclosed food company-sponsored content, as required by the U.S. Federal Trade Commission.

     

    To stay connected with the UConn Rudd Center’s work, you can follow them on social media and subscribe to their mailing list. 

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  • FTI Consulting to Release Second Quarter 2025 Results and Host Conference Call

    FTI Consulting to Release Second Quarter 2025 Results and Host Conference Call

    WASHINGTON, July 02, 2025 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced that it will release financial results for the second quarter ended June 30, 2025 before the New York market opens on Thursday, July 24, 2025.

    A conference call will be held to discuss these financial results on Thursday, July 24, 2025, at 9:00 a.m. Eastern Time and will be hosted by senior management.

    The conference call will be simulcast live on the Internet and can be accessed by logging onto the Company’s investor relations website. A replay of the webcast will be available on the Company’s investor relations website for 90 days.

    About FTI Consulting
    FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 8,100 employees located in 33 countries and territories as of March 31, 2025. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.70 billion in revenues during fiscal year 2024. More information can be found at www.fticonsulting.com.

    FTI Consulting, Inc. 
    555 12th Street NW
    Washington, DC 20004
    +1.202.312.9100

    Investor Contact: Mollie Hawkes+1.617.747.1791
    mollie.hawkes@fticonsulting.com

    Primary Logo


    Source: FTI Consulting, Inc.

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  • Sabadell's CEO says sale of TSB would complicate BBVA's bid for lender – Reuters

    1. Sabadell’s CEO says sale of TSB would complicate BBVA’s bid for lender  Reuters
    2. Santander doubles down on UK presence amid Spain’s banking M&A turmoil  CNBC
    3. Major British bank with five million customers set to be sold to high street rival after days of speculation  The Sun
    4. Banco Sabadell rises after it agrees to sell British unit  TradingView
    5. TSB brand could disappear from high streets in £2.65bn Santander takeover deal  The Independent

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  • Ireland’s renewable transport fuel policy provides some clarity for providers and investors

    Ireland’s renewable transport fuel policy provides some clarity for providers and investors

    Garrett Monaghan and Shani Stallard, energy experts at Pinsent Masons, were commenting after the Irish government published its renewable transport fuel policy 2025-27 (27 pages/1 MB PDF), a strategic plan to cut emissions from petrol and diesel vehicles by increasing the use of renewable fuels across the transport sector. The policy, published by the Department of Transport, is part of Ireland’s efforts to meet its national EU climate targets by 2030.

    The policy includes the renewable transport fuel obligation (RTFO), a legal requirement for fuel suppliers to blend a certain percentage of renewable fuels into their products. Under the new plans, this obligation will increase every year, with aims to ensure a steady rise in the share of renewables in Ireland’s fuel mix.

    The new policy sets out how Ireland will reduce the environmental impact of road, rail, and public transport by blending more biofuels and other renewable alternatives into traditional fossil fuels. It also introduces a series of reforms to accelerate the transition to cleaner transport while supporting the country’s climate action plans and the EU Renewable Energy Directive. 

    While electric vehicles (EVs) are central to Ireland’s long-term climate strategy, the government acknowledges that widespread EV adoption will take time. In the meantime, the government is urging the use of biofuels made from plants, waste, or residues in the vehicles already on the roads.

    Monaghan said: “Using biofuels in our existing vehicles is a quick and cost-effective way to cut emissions right now. It acts as a bridge while cleaner technologies, like electric cars, are being scaled up – meaning we can start lowering transport emissions immediately without waiting for everyone to switch to electric vehicles. That said, we need to always prioritise the importance of a cohesive renewables policy across the lesser developed areas of heat and transport. The government needs to accelerate the publication and delivery of the renewable heat obligation scheme for renewable gas.”

    From 2026, the RTFO will expand to include fuels used in rail transport and will also begin awarding credits for renewable electricity used to charge EVs at public charging points.

    Further, the policy places a strong emphasis on advanced biofuels – those made from waste products or non-food sources – and renewable fuels of non-biological origin, such as green hydrogen and synthetic e-fuels. These ‘next generation’ fuels are seen as essential for decarbonising sectors that are harder to electrify, such as heavy goods vehicles and aviation. By 2027, a growing portion of the RTFO target must be met using these advanced fuels.

    The policy comes with a detailed 19-point action plan, with deadlines between 2025 and 2027 to make sure all goals are achieved. For example, new laws will be passed in the second half of this year to enforce higher blend rates, include rail fuels in the obligation, and give credits for EV charging. There will also be support for industry guidance to improve the quality of fuel application and reduce processing delays as well as quarterly publication of performance data in a bid to ensure transparency and accountability.

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  • Opening Open Innovation Lab at UMC Utrecht

    Opening Open Innovation Lab at UMC Utrecht

    A collaborative ecosystem driving real-world innovation in cancer care

     

    IMAGINE is designed as an open innovation lab, enabling clinicians, mathematicians, AI developers, imaging scientists, engineers, design experts and medtech companies to collaborate on real-world challenges. By working within a hospital environment, the consortium ensures that innovations are informed by real patient needs and can be safely and rapidly translated into practice.

    The IMAGINE consortium unites a comprehensive group of partners from across the healthcare innovation ecosystem:
     

    • Academic and Research Institutions: UMC Utrecht, Antoni van Leeuwenhoek Hospital/Netherlands Cancer Institute, Radboudumc, Catharina Hospital, Eindhoven University of Technology, Utrecht University and its incubator UtrechtInc, and the National Research Institute for Mathematics and Computer Science (CWI).
    • Industry Partners: Philips, Elekta, KALCIO Healthcare, and Tesla Dynamic Coils.
    • Educational Institutions: Fontys University of Applied Sciences, University of Applied Sciences Utrecht, and The Hague University of Applied Sciences.


    Together, these partners are advancing the development, validation, and clinical implementation of image-guided technologies to improve cancer care and future-proof the healthcare system.

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  • Vitol and Breakwall Capital LP announce the formation of Valor Mining Credit Partners, L.P.

    Vitol, a leader in energy and commodities, and Breakwall Capital (“Breakwall”), a credit investment firm that services the energy industry, announced today the formation of Valor Mining Credit Partners, L.P. (“VMP” or the “Partnership”).

    VMP will seek to make structured credit investments in mining companies in the Americas. It will primarily target event-driven financing opportunities focused on debt refinancing, acquisition funding, and development capital, providing companies with flexible solutions to accelerate growth and drive shareholder value.

    VMP will be managed by Breakwall, which has an established track record of successfully investing credit capital across all aspects of energy and energy-adjacent value chains and of facilitating the growth and improvement of conventional, renewable, and “next generation” energy companies. This is the second energy credit focused partnership between Vitol and Breakwall. Valor Upstream Credit Partners, L.P. (“VCP”), which is focused on North American upstream oil and gas credit investments, has made over $1 billion in commitments since its launch in June 2023.

    Christopher Abbate, Jamie Brodsky, and Daniel Flannery, the Managing Partners of Breakwall, stated: “We are thrilled to partner with Vitol on this new investment strategy. The mining of natural resource deposits and raw materials is a critical, capital-intensive business, and a funding gap exists as the lending landscape is challenged by a lack of capital availability from banks and other direct lenders. We see a tremendous opportunity to bridge an unmet need in the marketplace by providing well-structured credit solutions, as we look to deploy innovative capital solutions across all facets of the energy value chain.”

    Ben Marshall, Head of the Americas, Vitol, added: “With the launch of VMP we look forward to expanding our investments in the energy and mining sectors, in partnership with Breakwall. Vitol has long been committed to investing in solutions across the energy spectrum, from traditional solutions to renewables, and we are keen to deploy our capital across a range of opportunities.”

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  • FDA Grants Priority Review for WINREVAIR™ (sotatercept-csrk) to Update Label Based on Results From ZENITH Trial

    July 2, 2025 6:45 am ET


    Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced that the U.S. Food and Drug Administration (FDA) has accepted and granted priority review for a new supplemental Biologics License Application (sBLA) seeking approval to update the U.S. product label based on the Phase 3 ZENITH trial for WINREVAIR™ (sotatercept-csrk). In 2024, WINREVAIR was approved for the treatment of adults with pulmonary arterial hypertension (PAH, Group 1 PH) to increase exercise capacity, improve WHO* functional class (FC), and reduce the risk of clinical worsening events. The FDA has set a Prescription Drug User Fee Act (PDUFA), or target action date, of Oct. 25, 2025.

    The sBLA is based on data from the Phase 3 ZENITH trial. The ZENITH trial was the first PAH Phase 3 outcome study to use a primary endpoint comprised entirely of major morbidity and mortality events. It was also the first PAH Phase 3 study stopped early by an independent data monitoring committee for overwhelming efficacy. In ZENITH, WINREVAIR demonstrated a 76% reduction in the risk of a composite of all-cause death, lung transplantation, and hospitalization for PAH ≥24 hours compared to placebo. Improvement was observed early in treatment with increasing benefit throughout the study. The safety profile of WINREVAIR in ZENITH was generally consistent with that observed in previous studies. These results were published in the New England Journal of Medicine.

    “We are pleased that the FDA has accepted our sBLA for WINREVAIR and granted a priority review to consider an update to labeling for WINREVAIR to include the impressive results of ZENITH. There remains a significant unmet medical need for patients living with PAH who, despite being on background therapy, remain at higher risk of morbidity and mortality,” said Dr. Joerg Koglin, senior vice president, global clinical development, Merck Research Laboratories. “The FDA’s Priority Review designation acceptance of our sBLA reinforces our confidence in WINREVAIR for a broad range of patients and represents a critical step toward advancing the treatment of PAH.”

    WINREVAIR is currently approved in more than 45 countries based on the results from the STELLAR trial.

    *World Health Organization

    About ZENITH

    The ZENITH study (NCT04896008) is a global, double-blind, placebo-controlled clinical trial to evaluate WINREVAIR when added to maximum tolerated background PAH therapy on time to first event of all-cause death, lung transplantation, or PAH worsening related hospitalization of ≥ 24 hours, in adult participants with WHO functional class III or IV PAH at high risk of mortality. ZENITH study inclusion criteria required Registry to Evaluate Early and Long-Term PAH Disease Management (REVEAL) Lite 2.0 risk score of ≥9.

    The study enrolled 172 participants, who were randomized in a 1:1 ratio to either WINREVAIR plus background PAH therapy or placebo plus background PAH therapy. The primary composite outcome measure was time to first confirmed major morbidity or mortality event. Events were defined as all-cause death, lung transplantation, or PAH worsening-related hospitalization of ≥ 24 hours. Secondary outcome measures included overall survival, transplant-free survival and several additional measures. The study excluded patients with PAH Group 1 subtypes: human immunodeficiency virus (HIV)-associated PAH and PAH associated with portal hypertension as well as diagnosis of pulmonary veno-occlusive diseases, pulmonary capillary hemangiomatosis or overt signs of capillary and/or venous involvement.

    Participants who completed the ZENITH trial were offered the opportunity to receive WINREVAIR as part of the open-label, long-term extension study, SOTERIA (NCT04796337), consistent with that study’s eligibility criteria.

    About WINREVAIR (sotatercept-csrk) for injection, for subcutaneous use, 45 mg, 60 mg

    WINREVAIR is FDA-approved for the treatment of adults with pulmonary arterial hypertension (PAH, WHO Group 1) to increase exercise capacity, improve WHO functional class (FC) and reduce the risk of clinical worsening events. WINREVAIR is the first activin signaling inhibitor therapy approved to treat PAH. WINREVAIR improves the balance between pro-proliferative and anti-proliferative signaling to modulate vascular proliferation. In preclinical models, WINREVAIR induced cellular changes that were associated with thinner vessel walls, partial reversal of right ventricular remodeling, and improved hemodynamics.

    WINREVAIR is the subject of a licensing agreement with Bristol Myers Squibb.

    Selected Safety Information for WINREVAIR in the U.S.

    WINREVAIR may increase hemoglobin (Hgb). Severe erythrocytosis may increase the risk of thromboembolic events or hyperviscosity syndrome. Monitor Hgb before each dose for the first 5 doses, or longer if values are unstable, and periodically thereafter, to determine if dose adjustments are required.

    WINREVAIR may decrease platelet count. Severe thrombocytopenia may increase the risk of bleeding. Thrombocytopenia occurred more frequently in patients also receiving prostacyclin infusion. Do not initiate treatment if platelet count is <50,000/mm3. Monitor platelets before each dose for the first 5 doses, or longer if values are unstable, and periodically thereafter to determine whether dose adjustments are required.

    In clinical studies, serious bleeding (eg, gastrointestinal, intracranial hemorrhage) was reported in 4% of patients taking WINREVAIR and 1% of patients taking placebo. Patients with serious bleeding were more likely to be on prostacyclin background therapy and/or antithrombotic agents, or have low platelet counts. Advise patients about signs and symptoms of blood loss. Do not administer WINREVAIR if the patient is experiencing serious bleeding.

    WINREVAIR may cause fetal harm when administered to a pregnant woman. Advise pregnant women of the potential risk to a fetus. Advise females of reproductive potential to use an effective method of contraception during treatment with WINREVAIR and for at least 4 months after the final dose. Pregnancy testing is recommended for females of reproductive potential before starting WINREVAIR treatment.

    Based on findings in animals, WINREVAIR may impair female and male fertility. Advise patients on the potential effects on fertility.

    The most common adverse reactions occurring in the phase 3 clinical trial (≥10% for WINREVAIR and at least 5% more than placebo) were headache (24.5% vs 17.5%), epistaxis (22.1% vs 1.9%), rash (20.2% vs 8.1%), telangiectasia (16.6% vs 4.4%), diarrhea (15.3% vs 10.0%), dizziness (14.7% vs 6.2%), and erythema (13.5% vs 3.1%).

    Because of the potential for serious adverse reactions in the breastfed child, advise patients that breastfeeding is not recommended during treatment with WINREVAIR, and for 4 months after the final dose.

    About PAH

    Pulmonary arterial hypertension (PAH) is a rare, progressive and life-threatening blood vessel disorder characterized by the constriction of small pulmonary arteries and elevated blood pressure in the pulmonary circulation. Approximately 40,000 people in the U.S. are living with PAH. The disease progresses rapidly for many patients. PAH results in significant strain on the heart, leading to limited physical activity, heart failure and reduced life expectancy. The five-year mortality rate for patients with PAH is approximately 43%.

    About Merck

    At Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world – and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

    Forward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA

    This news release of Merck & Co., Inc., Rahway, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

    Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

    The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

    Please see Prescribing Information for WINREVAIR (sotatercept-csrk) at http://www.merck.com/product/usa/pi_circulars/w/winrevair/winrevair_pi.pdf, Patient Information for WINREVAIR at http://www.merck.com/product/usa/pi_circulars/w/winrevair/winrevair_ppi.pdf, and Instructions for Use for WINREVAIR (1-vial kit, 2-vial kit) at https://www.merck.com/product/usa/pi_circulars/w/winrevair/winrevair_ifu_1-vial_2-vial_kits.pdf.


    Source: Merck & Co., Inc.


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  • The UK DUA Act’s Reform Pillars: Divergence from the EU GDPR – Age Appropriate Design Code (The Children's Code) – Kennedys Law LLP

    1. The UK DUA Act’s Reform Pillars: Divergence from the EU GDPR – Age Appropriate Design Code (The Children’s Code)  Kennedys Law LLP
    2. Fines for cookie contraventions more likely as a result of law change  Mishcon de Reya LLP
    3. UK businesses to benefit from new data protection laws  NI Business Info
    4. A soft touch  independentschoolmanagement.co.uk
    5. The UK DUA Act’s Reform Pillars: Divergence from the EU GDPR – Codified convergences with EU Law  Kennedys Law LLP

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  • WFW Madrid Partner María Pilar García Guijarro named WIBLA EMEA Energy, Natural Resources & Mining Lawyer of the Year

    WFW Madrid Partner María Pilar García Guijarro named WIBLA EMEA Energy, Natural Resources & Mining Lawyer of the Year

    Watson Farley & Williams (“WFW”) is proud to announce that Partner María Pilar García Guijarro – WFW’s Energy Sector Head for Europe & Americas and Madrid Office Head – has been named ‘Lawyer of the Year – Energy, Natural Resources & Mining’ at the Women in Business Law Awards (“WIBLA”) EMEA 2025.

    The WIBLA awards celebrate the achievements of leading women lawyers across the EMEA region based on a robust research and client feedback process. Held in London on 26 June, the awards ceremony brought together leading lawyers from across the EMEA region, with WFW also shortlisted for Best Firm in Spain, reflecting the strength and reputation for excellence of the firm’s Spanish offering.

    María Pilar’s win recognises her prominent role advising on the most complex and high-value energy transactions, as well as her longstanding commitment to client service and fostering talent within her team. She is the first WFW partner based in Europe to receive a WIBLA award in the energy, natural resources and mining category, setting a new benchmark for excellence and marking a milestone in the growth and recognition of the firm’s EMEA energy offering.

    WFW Managing Partner Lindsey Keeble, WIBLA’s EMEA Shipping and Maritime Lawyer of the Year 2021, commented: “I’m delighted by this well-deserved recognition of María Pilar’s deep sector expertise, strategic insights and consistent dedication to both our clients and the firm. She plays a key role in the ongoing growth of our energy practice and we are thrilled to see her achievements acknowledged by a leading organisation such as WIBLA”.

    María Pilar said: “It is a real honour to receive this award, which reflects not only the quality of the work we do, but also the strength of the relationships we have built with our clients and colleagues across the industry. I’m especially grateful to my fantastic team at WFW, this recognition is as much theirs as mine. My thanks to WIBLA for this and my sincerest congratulations to all winners and nominees for their outstanding work across the profession”.

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  • Commission continues action to lower energy bills with new guidance on renewables, grids infrastructure and network tariffs

    Commission continues action to lower energy bills with new guidance on renewables, grids infrastructure and network tariffs

    As part of its efforts to bring down the cost of electricity supply and make electricity bills more affordable for Europeans, the Commission has today provided new guidance to EU countries. It will facilitate the uptake of innovative renewable energy sources and forms of deployment, accelerate the rollout of grids and storage infrastructure and design future-proof electricity network charges. 

    The recommendation and 3 guidance documents will support the implementation of the revised Renewable Energy Directive and Electricity Market Design, as well as the Action Plan for Affordable Energy set out earlier this year to lower energy costs by accelerating the clean energy transition

    EU countries and the national energy regulators are invited to consider these support documents when designing national frameworks on these matters. The Commission stands ready to assist them in their efforts.

    Accelerated deployment of new types of renewable energy and forms of deployment

    Innovative renewable energy technologies such as ocean energy and floating offshore wind, as well as innovative forms of deployment of renewable energy such as agrisolar, floating solar and vehicle-integrated PV, have important potential, which is currently not being sufficiently tapped into. To support their roll-out, EU countries should develop clear regulatory frameworks. This will help provide legal certainty and facilitate their uptake. EU countries should design a financial framework for the support of renewable energies which is adapted to the specific needs of these technologies and forms of deployment. If applied, this will reduce the gap between the costs of these new types of renewable energy and those of conventional forms of deployment, fostering their development. EU countries should also encourage continued research and innovation to explore their potential benefits and clarify their environmental impacts. 

    Faster procedures for grids and storage roll-out

    The expected development of the electricity system in terms of growth in renewable energy generation, electricity demand and grid constraints requires the urgent expansion and reinforcement of the grids, combined with the accelerated deployment of storage solutions. EU countries are encouraged to facilitate this by means of designating areas for grid and storage infrastructure. Grids and storage projects located in these areas may then be exempted from certain types of environmental assessments.

    Future-proof electricity network charges to reduce energy system costs

    The necessary investments in renewable energy sources, grids and storage solutions require more flexibility and efficiency in the way the electricity grids are used and managed, to ensure their cost-effective operation. Energy regulators should design tariffs that reflect the needs of the electricity system and make the best use of the existing infrastructure by incentivising flexibility and encouraging consumers to use electricity when it is cheap to do so. 

    Background

    Europe’s high energy costs are heavily influenced by its dependence on imported fossil fuels. Expanding the amount and range of renewable energy sources would help reduce the costs of energy supply and energy prices for industry and citizens. To make this a reality, it is necessary to significantly accelerate the roll out of renewable energy projects, including innovative forms of deployment and innovative renewable energy technologies. Moreover, there is an urgent need to develop energy infrastructure enabling the uptake of the renewables, security of supply and market integration.

    Earlier this year, the Commission put forward an Action Plan for Affordable Energy to lower energy costs, complete the Energy Union, attract investments and be better prepared for potential energy crises. As a key component of the Clean Industrial Deal, this Plan will not only bring relief to households facing high energy bills, but also to industries that struggle with high production costs, with  estimated overall savings of €45 billion in 2025, that will progressively increase until €130 billion in annual savings by 2030 and €260 billion by 2040. 

    Dan Jørgensen, Commissioner for Energy and Housing, said:

    ‘The clean energy transition is not just a moral obligation towards our planet: it is a matter of security and independence for Europe. Lower energy prices and a secure energy system with a high share of renewables are the backbone of a sustainable and competitive economy. With this new guidance to our Member States, we are showing the way towards a cleaner, cheaper and more efficient energy system.’

    Related links

     

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