With Europe facing its second energy shock caused by an armed conflict in five years, the European Commission has proposed a raft of actions designed to accelerate a transition to affordable green energy.
AccelerateEU is billed as being commission's toolbox for bringing immediate relief to European households and industries, especially the most vulnerable ones, while putting Europe on a pathway to energy independence.
Since the escalation of the conflict in the Middle East, the EU has spent an additional €24 billion on fossil fuel energy imports due to higher prices without receiving a single extra molecule of energy.
The commission says the current geopolitical situation makes the point that accelerating the transition to clean, secure and affordable energy is an economic and security imperative.
AccelerateEU presents both short-term and structural measures with longer-term effect to further reduce dependency on volatile fossil fuel markets and build Europe's resilience against future risks based on homegrown clean energy and electrification.
Ursula von der Leyen, president of the European Commission, said: ”The choices we make today will shape our ability to face the challenges of today and the crises of tomorrow. Our AccelerateEU strategy will bring both immediate and more structural relief measures to European citizens and businesses. We must accelerate the shift to homegrown, clean energies. This will give us energy independence and security, and mean we are better able to weather geopolitical storms.”
The commission proposes the following actions:
The AccelerateEU Communication responds to the request by EU heads of government at 19 March European Council to present “a toolbox of targeted temporary measures to address the recent spikes in the prices of imported fossil fuels arising from the crisis in the Middle East”. It is one part of the commission's response, which will evolve as the situation develops. The measures will be discussed by EU leaders at the Informal European Council in Cyprus on 23-24 April.
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