European Commission member for energy, Dan Jørgensen, predicted long-term consequences and unpredictability of the energy crisis and promised to protect the most vulnerable citizens of the European Union and sectors of the European economy.
Half a Billion a Day
"Since the beginning of the conflict in the Middle East, our spending on fossil fuel imports has increased by more than 24 billion euros. That’s over 500 million euros a day. These costs are being felt here and now, in homes and businesses across Europe. But the true consequences of this crisis will be long-term. It is evolving. It is unpredictable," he stated at a press conference.
The EU Commissioner presented an emergency action plan to combat the sharp rise in energy prices caused by the war in the Middle East, alongside Executive Vice-President of the European Commission, Teresa Ribeiro, aimed at accelerating Europe’s transition to clean energy - AccelerateEU.
Brussels Has a Plan
The plan involves coordinating actions to implement emergency measures against the energy crisis at both the union level and within each member state.
It includes measures aimed at protecting consumers and industries from price shocks, including a support program for those most affected by the crisis. It encompasses efforts to accelerate the transition to domestic clean energy and stimulate investments in the energy transition. It proposes modernizing the EU's energy system by speeding up work on networks and supporting the electricity sector with favorable taxation.
"We Cannot Predict Everything, We Must Be Ready for Anything"
According to Jørgensen, it is important to clearly communicate to EU citizens that "the coming months will be filled with uncertainty."
"The crisis will affect different member states in different ways. Since we cannot predict everything, we must be ready for anything. But in the face of this uncertainty, there are things we can be sure of. We can protect the most vulnerable citizens in our communities. We can protect the most vulnerable sectors of our economy, such as energy-intensive industries. And, importantly, we can take actions that will protect us from future shocks," the Commissioner continued.
He advocated for coordination among member states and called for joint actions, as they, in his opinion, "can shield us from the worst consequences of this crisis."
What About Airplanes?
When asked how the EU's aircraft fleet would be supplied with fuel if the crisis drags on, the Commissioner replied that the European Commission has already begun working on this issue.
"Will we be able to avoid or limit the security of supply crisis? It will depend on the duration of the energy crisis," Jørgensen believes.
He reported that everything possible is being done regarding oil refining in Europe and the stocks available to various member states. "But we must be honest: whether a supply crisis will arise or not will depend on the developments in the Middle East. But we are doing everything we can to avoid this crisis or limit it," the EU Energy Commissioner concluded.
