BRUSSELS — A group of 12 EU governments is calling on the European Commission to expand a key fund supporting the bloc’s poorer member countries in their energy transition, according to a letter seen by POLITICO.
The countries demand that the EU executive ensure the “continuation and strengthening” of the so-called Modernisation Fund after 2030 as part of the Commission’s upcoming reform of the bloc’s Emissions Trading System.
“We call for a significant increase in the scale of financing, aligned with the growing challenges of the transition,” the countries write.
The fund, which is financed through ETS revenues, helps the EU’s 13 lowest-income member countries achieve their climate targets by supporting investments in energy systems and energy efficiency measures. It currently runs until 2030 and is expected to disburse around €57 billion this decade.
