The European Commission overestimated the cost of implementing a 27% renewable energy target by €2.9 billion a year to 2030, EU climate and energy commissioner Miguel Arias Cañete admitted during a debate in the European Parliament.
The commissioner was citing an as yet unpublished analysis commissioned after MEPs criticised the EU executive for basing its proposed 2030 target on out-of-date estimates of the cost of wind and solar power, which has plummeted in recent years.
Please enter your details
Not a subscriber?
Take a free trial now to discover the critical insights and updates our coverage offers subscribers.