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Gas crisis is a wakeup call to make the energy transition fairer
(EurActiv, 14 Dec 2021) An effective way to avoid being exposed to gas price volatility would be for the EU to produce its own renewable energy. This is where citizens and local communities come in, writes Dirk Vansintjan.
Dirk Vansintjan is president of REScoop, the European federation of citizen energy cooperatives.
If you’re an EU citizen, you – like me – will probably have felt a lump in your throat when you received your last electricity bills. Energy prices have been soaring all across Europe over the previous few months. For some of us, this represents somewhat of a significant inconvenience – for others, it means not being able to pay our electricity bills or going into debt.
A slew of factors has put us here. Electricity prices on the market are set based on the most expensive source of electricity. The recent shortage in gas has driven gas prices sky-high, raising electricity prices on the markets overall.
Europe’s countries are highly dependent on fossil fuel exporters for their energy supply (gas makes up 32% of household final energy consumption, and the EU relies on imports for 96% and 89% of its crude oil and natural gas supply, respectively). Such reliance makes us vulnerable to electricity price fluctuations.
An effective way to avoid being exposed to such volatilities would be for the EU to produce its own renewable energy. Investment in projects generates profit and dividends and allows us greater decision-making autonomy (including electricity prices). However, investments in renewables are currently too low to meet our energy needs. Until we are independent of fossil fuels, there will be more energy crises.
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EurActiv, 14 Dec 2021: Gas crisis is a wakeup call to make the energy transition fairer
