The European Commission has set out its AccelerateEU package in a fact sheet published on 22 April to speed up the shift away from fossil fuels towards homegrown clean energy and electrification.
The EU spent an additional €24 billion on fossil imports in the first 50 days of a recent conflict, highlighting the cost of energy dependence, the European Commission said .
While energy security is not currently at risk, price volatility linked to fossil fuel imports requires immediate support for households and industry, it added .
AccelerateEU includes measures to protect consumers through targeted and temporary emergency support and a State aid framework for investment in clean technologies.
The package also calls for stronger coordination between Member States on gas storage, oil stocks and fuel supply, alongside the creation of a Fuel Observatory.
The Commission said accelerating domestic clean energy production, including renewables, nuclear and sustainable biofuels, is central to achieving energy independence.
It highlighted electrification of heating and cooling, improved insulation and replacement of inefficient appliances as key to reducing energy costs and consumption.
An upcoming Electrification Action Plan will set targets and address barriers across industry, transport and buildings.
The package also focuses on boosting investment through a Clean Energy Investment Summit and increased use of EU funding and ETS revenues.
Measures to strengthen the energy system include grid investment, faster permitting and increased battery, flexibility and thermal storage capacity.
“Electrification is a strategic imperative for Europe’s independence, security, and prosperity,” said Tinne van der Straeten, chief executive of WindEurope.
“It needs to happen immediately and at scale.”
“We must make homegrown electricity the cheapest option,” she said.
“This means cutting VAT and taxes and on heat pumps, electric vehicles and other electrification technologies.”
“It means addressing the low hanging fruit in low- and medium temperature heat processes. AccelerateEU is bold political leadership in a time of crisis,” she added.
Sean Casey, EY Ireland Energy Industry Leader, commenting on the EU Commission’s measures announced today to address rising energy price:
“Today’s announcement by the EU Commission is a welcome and pragmatic response to the current energy crisis, balancing a focus on strengthening security of supply across the EU Bloc and easing costs for households and businesses in the short term, while also seeking to accelerate longer‑term investment in a more secure, sustainable and electrified grid.
“What makes the current situation different from crises such as 2022 or the oil shocks of the 1970s is that this disruption is multi‑fuel, multi‑region and global in nature. We’re seeing pressure across oil, gas and power markets at the same time, which adds complexity, especially for countries like Ireland that sit at the end of long supply chains. We are also in a situation where there is a significant degree of uncertainty, meaning that shocks may be prolonged and need to be managed carefully.
“The longer‑term lesson from all this is clear – the need to accelerate investment in renewables, grids, networks, storage and flexibility, and it’s especially welcome to see this central in the EU Commission’s response.”