The EU aims to reduce greenhouse gas emissions, increase the share of renewable energy in energy consumption, improve energy efficiency and interconnect the EU’s electricity systems.
This will require major transformations of the Member States’ energy systems, but also massive investments from public and private, national and EU funds.
Furthermore, the war in Ukraine has a direct impact on the EU energy market and the citizens in the EU. Therefore, the energy supply in the EU needs to become more resilient, sustainable and independent of external shocks.
In this light, the European Commission launched its REPowerEU Plan mobilising almost €300 billion. The Plan aims to help the EU save energy, produce clean energy and diversify its energy supplies.