ACER finds a mixed picture in the implementation of Infrastructure Projects of Common Interest
ACER published today its third consolidated annual report on the progress of Projects of Common Interest (PCIs) in electricity and gas. The report examines how the projects on the second EU list of PCIs (adopted in November 2015) evolved, with a focus on the 12-month period from January 2016 to January 2017. The Agency’s main findings are the following:
- Several promoters of electricity and gas PCIs reported progress in the implementation of the projects and an advancement in their status compared to 2016. In most instances, the projects entered the permit granting process after completing earlier project development stages. In contrast, some PCIs did not report on any work or activity being done since 2015, which casts doubt on the viability of these projects.
- Approximately half of the PCIs fell behind last year’s schedule. In electricity, this was mainly due to delays in permitting, while in gas it was typically due to rescheduling (i.e. voluntary postponement by a promoter, for example, due to less urgent need for the investment or re-prioritisation of the project vis-à-vis other investments). Over the last two years, only one-third of all the PCIs have managed to keep their original commissioning date.
- The investment costs, as estimated and reported by the promoters, amount to €49.8 billion for electricity PCIs and €52.7 billion for gas PCIs. Since 2015, promoters have spent approximately €6 billion on gas and €4.3 billion on electricity PCIs.
- Regarding the benefits which the projects would bring, in electricity the reported monetised benefits amount to €66.1 billion. The Agency was not able to evaluate the benefits of the gas PCIs as the promoters did not provide sufficient monetised benefits data for gas projects, due to a lack of monetisation of benefits in the ENTSOG CBA methodology.
- The interest of the promoters in using the regulatory tools made available by Regulation (EU) No 347/2013 and exemptions remained low.
The report is available here.