The Commission presents a giant package – So far, the crisis has already cost 24 billion

The proposals are included in the Commission’s new Accelerate EU package of measures, which aims to respond to the fossil fuel price crisis and strengthen the EU’s energy self-sufficiency. The background is the escalated conflict in the Middle East, which has raised the prices of imported energy and increased the EU’s energy costs by an estimated 24 billion euros so far.

The Commission emphasizes the importance of coordinating the actions of the member states. The scope of the coordination includes, for example, the refilling of gas storages, the use of flexibility in the filling rules, and exceptional emissions from oil storages. National actions aimed at ensuring the availability of jet fuel and diesel must also be closely coordinated.

In the transport sector, the Commission proposes the establishment of a new fuel monitoring centre. It would monitor the production, import, export and storage situation of transport fuels. According to the commission, more accurate monitoring enables problems to be identified, reserve stocks to be released and fuel distribution to be balanced.

The aim is to support the aviation industry by clarifying the flexibilities of EU legislation in case of disruptions and by promoting the use of sustainable aviation fuels.

Households and industry

According to the Commission, within the framework of current EU rules, member states can already introduce income subsidies, energy vouchers and lower energy prices on social grounds. In order to protect the most vulnerable citizens, EU legislation also allows for bans on cutting off energy supplies in the event of payment difficulties.

The Commission also presents the possibility of reducing the excise duty on electricity and reducing the value added tax on, for example, heat pumps, solar panels and battery systems. The purchase of electric vehicles can also be supported with member countries’ tax incentives.

For industry, the Commission promises additional funding for a clean transition through the so-called industrial decarbonisation bank. The goal is to mobilize up to 100 billion euros.

The Commission emphasizes that short-term crisis measures must be supplemented with significant investments in clean energy. The energy transition is estimated to require annual investments of up to 660 billion euros until 2030.

The Accelerate EU issue will be discussed at the informal summit of EU leaders, which will be held in Cyprus on 23-24 April.