Plans to unite the energy grids of northern Europe will result in the development of a single European market for renewable energy.
The "supergrid" is expected to decentralise energy provision, connect sources of renewable energy and drive down bills from energy suppliers.
Experts expect the plans to also increase the potential of offshore wind farms and hydropower to supply electricity to consumers across the continent.
Paolo Berrino, of the European Wind Energy Association, said: "[The] North Sea grid will connect offshore wind to our electricity supply, enabling Europe to exploit its largest untapped energy source.
"It will [allow] trade in electricity between countries, thereby bringing more competition into the market and reducing electricity prices."
Mr Berrino added that there are currently no plans for an EU-wide feed-in tariff, although an increasing number of countries are developing feed-in tariffs for micro electricity generation.
At the recent Energy Council, ministers from UK, Germany, France, Belgium, Netherlands, Luxembourg, Denmark, Sweden and Ireland agreed to jointly develop offshore wind infrastructures in the North and Irish Seas.
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