In the current context of tension with Russia, the European Commission presented the REPowerEU package on the 18th, a plan designed to reduce dependence on Russian energy and speed up the energy transition. The package includes measures in the areas of energy efficiency, diversification of suppliers, accelerating the transition to renewable energies and reducing fossil energy consumption in industry and transport.
These measures include an increase in ambition in the 2030 targets for energy efficiency (from 9% to 13%), and renewable energies in the European mix (from 40 to 45%). The measures also include a joint gas purchase mechanism based on a similar operation to the purchase of vaccines, the creation of interconnections for the Iberian Peninsula for electricity interconnections and for the transportation of LNG and green hydrogen, and strategies to accelerate the implementation of renewable energies.
01 June 2022
