Towards a Carbon-Free, Decentralized, and Democratized System of Energy Generation

Abstract

In line with the European Union’s energy and climate targets for 2030, the European Commission has put forward a vision of an integrated energy system capable of delivering energy efficiency and a low-carbon economy. The increasing digitalisation of the energy system will serve as the vehicle to a carbon-free, decentralized, and democratized system of energy generation and transmission. The introduction of smart grids across EU Member States will contribute to the shift towards a more sustainable energy system. This article will assess the eligibility and readiness for the implementation of smart grids in three jurisdictions of the European Union: Hungary, Cyprus, and Lithuania. The main focus of the article is the electricity market in these jurisdictions. It is in this context that the article will assess the extent to which the regulatory framework in these countries is favorable to the successful implementation of smart-grid technology.