In response to another sharp rise in prices for imported fossil fuels, the European Commission has launched the ‘AccelerateEU’ package of measures. This is driven by the EU’s ongoing dependence on energy imports, which has recently resulted in additional costs of €24 billion without any increase in the volume of imports. The aim is to provide short-term relief for households and businesses whilst accelerating the transition to a more independent energy supply.

Coordinated crisis response in the energy sector

A key component is enhanced coordination between Member States. This includes measures such as the joint management of gas storage filling, the use of existing flexibility rules, and the potential release of strategic oil reserves. In addition, a new fuel observatory will be established to monitor market movements and respond at an early stage to potential shortages. In the aviation sector, too, existing leeway is to be utilised to cushion the impact of high fuel prices.

Targeted support for consumers and the economy

To alleviate immediate pressures, the Commission is focusing on temporary and targeted relief measures. These include, amongst other things, financial support, energy subsidies and programmes to reduce electricity costs for households particularly affected. At the same time, a temporary state aid framework is being established to enable Member States to support affected sectors more quickly and flexibly.

Accelerating the energy transition

A key focus is on reducing dependence on fossil fuels through electrification and renewable energy. A comprehensive action plan is planned to drive the expansion of electric applications in industry, transport and buildings. At the same time, investment in sustainable mobility, for example through the increased use of alternative aviation fuels, is to be accelerated.

Infrastructure expansion and investment

To ensure a successful transition, the electricity grid will be further strengthened and modernised. In addition to making better use of existing renewable energy facilities, rapid expansion is also planned to create additional capacity. Furthermore, the Commission plans to adjust grid tariffs and taxation to make electricity more attractive compared to fossil fuels.

Financially, the package relies on existing EU funds amounting to billions of euros, such as those from the Recovery and Resilience Facility. At the same time, it is clear that the annual investment requirement of €660 billion by 2030 can only be met through greater involvement of private investors. To this end, targeted initiatives and a planned clean energy investment summit are envisaged.

Strategic importance for the EU

With ‘AccelerateEU’, the EU is not only responding to short-term price fluctuations but also addressing structural weaknesses: currently, 57% of energy consumption comes from imported fossil fuels, with a total import value of €340 billion in 2025. The package of measures is intended to gradually reduce this dependency and sustainably strengthen the resilience of the European energy system.

Source: European Commission