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Fluence and Nine Additional Energy Market Organisations Issue Open Letter to European Policy Makers and the Media regarding the REPowerEU Plan
ERLANGEN, Germany, July 14, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (Nasdaq: FLNC), a leading global provider of energy storage products and
About this update from Fluence Energy, Inc.
[{"type":"text","content":"ERLANGEN, Germany, July 14, 2022 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (Nasdaq: FLNC), a leading global provider of energy storage products and services and digital applications for renewables and storage, today, along with nine other signatories, released the following open letter to European policy makers and the media regarding the REPowerEU plan and the urgent need to rethink the structure of European energy markets. Specifically, the letter outlines why Europe needs a rapid rollout of technologies to increase grid flexibility, and strong targets and policy frameworks in place to encourage the near-term adoption of these technologies. The full letter follows: An Open Letter to European Policy Makers and the Media regarding the REPowerEU Plan The current geopolitical situation across the continent, combined with high dependency on imported natural gas, growing electricity demand, and consequently, higher bills for households and businesses, creates an urgent need to rethink the structure of European energy systems. The REPowerEU Plan1, published in May by the European Commission, aims to increase the security of energy supply by building and connecting more renewable generation to the grid. However, for this plan to be successful, it must be accompanied by adequate targets and policy frameworks for the deployment of energy storage and other flexibility technologies. They are necessary to enable the safe and efficient integration of renewables into the electric grid, and now is the time to recognise them as the pillars of the European energy transition. The signatories to this letter, organisations with decades-long experience in creating and supporting global and European energy markets, welcome the REPowerEU Plan, its ambitious renewable targets, and the recognition of the role of energy storage in delivering sustainable and reliable energy supply. At the same time, we believe that if the accelerated near-term deployment of renewable energy sources is to be successful, Europe needs a rapid rollout of proven and scalable technologies to increase grid flexibility and enable the safe and efficient integration of renewable generation. To this end, battery-based energy storage is a quickly deployed, cost-effective, and low-emissions solution with the potential to become a backbone of modern, resilient, and decarbon...