EU plans secure, sustainable energy access post Ukraine invasion

This plan also outlined a series of measures to respond to rising energy prices in Europe and to replenish gas stocks for next winter. By October 1 this year, gas storage in the European Union (EU) has to be filled up to at least 90 per cent, it was proposed.

Europe has been facing increased energy prices for several months, but now uncertainty on supply is exacerbating the problem, the European Commission said in a release.

REPowerEU will seek to diversify gas supplies, speed up the roll-out of renewable gases and replace gas in heating and power generation. This can reduce EU demand for Russian gas by two thirds before the end of the year.

Commission president Ursula von der Leyen said: “We must become independent from Russian oil, coal and gas. We simply cannot rely on a supplier who explicitly threatens us. We need to act now to mitigate the impact of rising energy prices, diversify our gas supply for next winter and accelerate the clean energy transition.…I will be discussing the Commission's ideas with European leaders at Versailles later this week, and then working to swiftly implement them with my team.”

The Commission's ‘Energy Prices Toolbox' from last October has helped member states to mitigate the impact of high prices on vulnerable consumers and it remains an important framework for national measures.

The EU imports 90 per cent of its gas consumption, with Russia providing around 45 per cent of those imports, in varying levels across member states. Russia also accounts for around 25 per cent of oil imports and 45 per cent of coal imports in the bloc.

Fibre2Fashion News Desk (DS)