Efficient transmission and distribution of electricity is fundamental for the well being of citizens and the functioning of our economies. Increased energy demand, an aging electricity network, and the challenge of integrating electricity from renewable sources are major challenges. Developing a smart grid, or smart cities, is an excellent way to deal with these challenges. A smart grid is a modernized electrical grid that uses information and communications technology to gather and act on information on the behavior of suppliers and consumers in the market. Empowered consumers with smart appliances or smart homes, flexible prices, and storage are key elements in a smart grid. Smart grids are so promising in accommodating the energy transition that Vice-President Maroš Šefčovič said: "smart grids should become Europe's shale gas."