ERGEG’s “Position Paper on Smart Grids” sets out its final views and recommendations for smart grids in Europe, following a public consultation that was launched on December 17, 2009. The purpose of the consultation was to assist regulators in understanding how smart grids can benefit network users and, potentially, other stakeholders in the European electricity supply system. It was also designed to explore ways in which the development of smart grids can be encouraged, where cost effective. The Consultation Paper explored the drivers and opportunities for ‘smarter’ networks and discussed the regulatory challenges and priorities. It also proposed a number of key questions and issues for stakeholders to respond to, which are evaluated in this Conclusions Paper.