On May 18th, the European Commission presented the REPowerEU, in response to the difficulties and disruptions of the world energy market caused by the Russian invasion of Ukraine.
The plan aims to address the climate crisis and transform Europe’s energy system to end Russia’s dependence on fossil fuels, used by Russia as an economic and political weapon. A dependency that costs European taxpayers almost 100 billion per year. The foreseen measures act on energy saving, diversification of energy supply and a faster deployment of renewable energies to replace fossil fuels in homes, industry, transport and electricity generation. Financial action will take place through Member States’ recovery and resilience plans, which will be updated with the new targets and funds.
