Europe’s climate and energy strategy has become disturbingly bipolar

(EurActiv, 18 Jul 2022) Brussels is pursuing overambitious and costly decarbonisation policies while national capitals are desperate to guarantee the necessary energy supply and struggle to keep gas storages full and the lights on, writes Dimitar Lilkov.

At first glance, the EU’s climate agenda is in full swing. The European Parliament finally reached an internal compromise on the reform of the Emissions Trading System (ETS) and the forthcoming carbon border tax (CBAM).

In parallel, the European Commission (EC) has tabled an ambitious plan for ending the EU’s dependence on Russian fossil fuels through a mix of diversification of supply and energy savings. Even the divisive taxonomy on sustainable finance got the final nod.

Take your eyes away from wishful EU communications, however, and you’ll find that the situation on the ground is turning sour. European capitals are struggling to cope with one of the most disruptive energy crises in the history of the Union. In less than a year, electricity wholesale prices have doubled and sometimes even tripled across the continent, while gas spot and crude oil prices are reaching record highs.

In a matter of months Italy, Spain, France and Germany have each spent between 30bn and 40bn in order to soften the blow for households and industry. Gazprom has completely cut off or substantially reduced natural gas supplies to at least a dozen EU countries, which makes politicians fret about energy rationing in the winter. Germany has already begun limiting hot water, dimming street lights and appealing to citizens to preserve energy.

Boosted imports of LNG from alternative sources are vital, but our own terminal infrastructure and global supply remain limited. In anticipation of an energy disaster, national governments are quietly burning more coal and re-opening dirty power plants across Europe.

External link

EurActiv, 18 Jul 2022: Europe’s climate and energy strategy has become disturbingly bipolar

More Related News

energy security

19 Apr 2024: The Letta report: What’s in the box for Europe’s energy sector

12 Apr 2024: Shift to hydrogen networks: EU Parliament adopts laws for new gas era

2 Apr 2024: Romania’s pretext for not taking steps to reduce energy consumption slammed

12 Mar 2024: Europe’s mild winter leaves gas stocks at record high

5 Mar 2024: Two years on, how is Russia’s invasion of Ukraine driving energy security and decarbonisation?

4 Mar 2024: EU lawmaker alliance calls for ban on all Russian energy, including gas

1 Mar 2024: High time for a fifth fundamental European freedom: energy

1 Mar 2024: Gas consumption in France down 20% from 2021 levels

20 Feb 2024: Beggars can’t be choosers – Europe needs to smarten up its energy security

18 Jan 2024: EU economy still grappling with long tail of 2022 energy shock

18 Jan 2024: EU economy still grappling with long tail of 2022 energy shock