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European Union Calls for Lower Energy Prices to Safeguard Competitiveness

Ursula von der Leyen, the President of the European Commission, addressed representatives from the clean energy and technology sectors at the “Green Transformation Dialogue” held in Brussels.

Reported by Ata Ufuk Şeker, von der Leyen reminded attendees that the European Union (EU) started recovering from the COVID-19 pandemic just as the Russia-Ukraine War began, causing a significant energy crisis. She stated that they were shaken by a major energy crisis due to the war’s impact.

Highlighting that the situation has started to stabilize after the worst energy crisis in 40 years, von der Leyen noted that energy prices have returned to pre-war levels in recent times.

Stating that energy prices in the EU are structurally higher than in other regions globally, von der Leyen emphasized the importance of lowering energy prices and ensuring accessible energy sources for competitiveness.

She mentioned that during the summer of 2022 when the war started, energy prices in Europe increased tenfold compared to the pre-war period. During this time, countries like the United States and Norway increased their shipments of gas and liquefied natural gas to the EU through pipelines.

Von der Leyen also highlighted their focus on energy conservation and efficiency, mentioning the construction of necessary interconnection terminals and infrastructure.

Emphasizing the importance of investing in locally produced renewable energy that is accessible and affordable in the European continent, von der Leyen stated, “Two years ago, one-fifth of the energy consumed in the EU came from Russia. Today, this ratio has decreased to one-twentieth. Last year, for the first time, electricity generated from solar and wind surpassed gas.”

Using the figure “44% of our electricity now comes from renewable sources,” von der Leyen explained their efforts in diversifying energy sources and supply chains.

Concluding her speech, von der Leyen acknowledged that there is still work to be done, stating, “We need to work on structural solutions to ensure that energy prices in Europe are lower than the rest of the world.”

source: aa.com.tr / prepared by Melisa Beğiç

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