Brussels has unveiled a new package to accelerate investment in clean energy, curb prices and reduce dependence on fossil fuels. The European Commission has announced a set of initiatives aimed at boosting investment in clean energy, strengthening the resilience of the energy system and lowering energy costs, in a context marked by geopolitical volatility and reliance on imported fossil fuels.
The new Clean Energy Investment Strategy seeks to mobilise private capital and reduce project risks in order to accelerate the development of infrastructure, innovative technologies and energy efficiency measures. It will be supported by the European Investment Bank, which is expected to provide more than €75 billion over the next three years.
The Commission stressed that the current international context reinforces the urgency of advancing the energy transition. Executive Vice-President Teresa Ribera stated that “homegrown clean energy is the only lasting solution for the EU to break the cycle of dependence on fossil fuels and price volatility,” referring to the impact of the situation in the Middle East.
The package also includes measures aimed at consumers, with the goal of reducing energy bills, facilitating supplier switching and improving transparency in contracts, as well as promoting self-consumption and the production of clean energy.
At the same time, Brussels is pushing to strengthen the development of domestic technologies and European supply chains in order to reduce external dependence. In this context, the strategy for small modular reactors stands out, with deployment expected to begin in the next decade. Executive Vice-President Stéphane Séjourné underlined that developing a European nuclear industry “is essential to decarbonise industry and strengthen energy independence.”
For his part, Energy Commissioner Dan Jørgensen warned that high energy prices continue to weigh on both households and businesses, stressing that reducing reliance on imported fossil fuels is key to achieving a system that is “cleaner, safer and more affordable.”
These measures are part of the Affordable Energy Action Plan and form part of the EU’s broader strategy to enhance competitiveness, strengthen energy autonomy and advance decarbonisation, at a time when energy is becoming a central pillar of economic stability.
