EU proposes measures to curb fossil fuel dependence amid energy price surge

The European Commission has proposed a new package of measures aimed at reducing reliance on imported fossil fuels and addressing rising energy costs linked to tensions in the Middle East, according to a press release published on Wednesday.

Under the “AccelerateEU” initiative, the Commission said Europeans are “paying the price of Europe’s dependency on imported fossil fuels” for the second time in less than five years.

It said that since the escalation of the conflict in the Middle East, the EU has spent an additional €24 billion (nearly $25.6 billion) on energy imports due to higher prices, without receiving any additional supply.

The Commission said the current situation highlights the need to accelerate the transition to clean energy, describing it as both an economic necessity and a security imperative.

European Commission President Ursula von der Leyen stressed that the strategy aims to provide “both immediate and more structural relief measures” while strengthening energy independence.

“The choices we make today will shape our ability to face the challenges of today and the crises of tomorrow,” she said, adding that accelerating the shift to “homegrown, clean energies” would strengthen resilience to geopolitical shocks.

The proposal includes coordinated measures among member states on gas storage, oil stocks, and fuel supply management, as well as the creation of a new fuel observatory to monitor EU fuel flows and stock levels.

It also envisages targeted support for consumers and industries, including energy vouchers, income support schemes, and temporary flexibility under state aid rules.

Longer-term measures include plans to accelerate electrification, expand renewable energy infrastructure and strengthen grid networks across the bloc.

The Commission said major EU funding tools, including the Recovery and Resilience Facility and cohesion funds, should be deployed more rapidly, while stressing that private investment will be essential to meet annual energy transition needs estimated at €660 billion through 2030.

The proposal will be discussed by EU leaders at an informal European Council meeting in the Greek Cypriot Administration on April 23-24.