The European Commission, or more precisely its president, absolutely pointed to the energy problem in Europe – too much dependence on Russia. A plan was then presented at the meeting, which clearly shows that Russia’s aggression has accelerated the transition to renewable energy in Europe, although we will wait for more details.
We are to say goodbye to Russian gas, coal and oil, and to welcome renewable energy sources in Europe
The European Union provides Russia with as much as $ 118 million every day for natural gas supplies. It is also worth mentioning that the EU receives about 45% of gas, 25% of oil and 45% of coal from Russia, which in the current situation makes it clear – an alternative should be found, at least in the energy sector. The commission’s plan aims to cut Russian gas imports by two-thirds by the end of the year and completely cut fossil fuel supplies from Russia well before 2030.
This is to be made possible by RES (Renewable Energy Sources) power plants, but we will wait a few more months for specific programs and decisions, as the last meeting focused more on the gas-only strategy. It was noted, however, that there is a desire to increase the share of solar and wind energy, and mention was made of programs to replace up to 10 million gas heating systems with efficient electric heat pumps. The drive to increase the production and import of biomethane and “green hydrogen” was also mentioned.
Also read: The world’s largest green hydrogen production facility will be built in Texas
As for gas itself, the European Commission initially plans to diversify its imports of natural gas, relying more on suppliers outside Russia, and to reduce the amount of gas used. In addition, to protect itself against price volatility next winter, the Commission proposes that by October 2022 the EU reserves gas storage facilities have been filled to over 90%.