To asses energy security across Europe, we have conducted a detailed analysis of the energy transition strategies of six major European economies. These are the UK, Germany, France, Italy, Spain, and the Netherlands.
As shown in the accompanying map, several nations, including the UK, Netherlands, Belgium, Ireland, and Austria, already rely on electricity imports via interconnectors during periods of system stress (i.e. high demand and/or low renewable generation).
By 2030, Germany, Poland, Sweden, and the Baltic states will join this group, followed by Spain and Italy by 2040. France and Finland are expected to meet domestic demand through nuclear power, while Portugal will rely on hydroelectric generation. However, none of these countries will have surplus electricity available for export.
Only Norway, Switzerland, and Iceland are projected to maintain exportable electricity capacity. Yet, building a 1GW interconnector to Iceland is estimated to cost £5–10 billion. This is far more costly than investing in domestic energy storage infrastrucutre.
Periods of system stress tend to occur simultaneously across regions, resulting in insufficient surplus electricity to meet the collective demand of importing countries. This threatens widespread rolling blackouts, often referred to as enforced Demand Side Response (DSR).
To safeguard energy security, particularly in the UK, countries must invest in large-scale, long-duration energy storage. Storelectric’s CAES offers a comparable cost per GW to the BritNed interconnector. It also delivers a level of reliability that interconnectors cannot guarantee. By strengthening domestic storage capacity, nations can reduce dependence on imports and ensure stable, secure energy.
Originally written Feb 2020
