The €3.98 billion EEPR was launched in 2009 to stimulate economic recovery through supporting developments such as cross-border gas and electricity inter-connectors, offshore wind parks and carbon and capture storage (CCS) projects.

The European Parliament was unable to include energy efficiency projects within the remit of the EEPR, with the caveat that any unspent funds could be considered for reallocation. A €115 million underspend could now be allocated for energy efficiency projects that promise a “rapid, measurable and substantial impact on economic recovery, increased energy security and reduction of greenhouse gas emissions”.

The unspent funds could now support a range of energy efficiency initiatives, including electric and hydrogen vehicles for public transport, more efficient street lighting, smart metering and smart grids, integrating decentralised renewable sources into electricity grids and street lighting and district heating networks.

The European Parliament will vote on the rule change to allow the funds to be reallocated in October.