Brussels Launches «AccelerateEU» Plan to Combat «World’s Biggest Energy Crisis»
The European Commission launched its «AccelerateEU» plan to tackle the «world’s biggest energy crisis,» as described by IEA chief Fatih Birol. The plan focuses on coordinating energy flows, easing state aid rules, and accelerating electrification, with a new target expected in mid-June. Unlike past crises, Brussels is not mandating lifestyle changes for citizens.
The European Commission has launched the «AccelerateEU» plan to address the ongoing energy crisis, which International Energy Agency chief Fatih Birol called «the world’s biggest energy crisis.» Energy Commissioner Dan Jørgensen presented the plan in Brussels on Wednesday, almost four years after the «REPowerEU» program. The Strait of Hormuz has been closed for seven weeks, impacting a quarter of the world’s oil and a fifth of its LNG supply.
Unlike previous crises, Brussels is not urging citizens to telework, drive less, or avoid flying. Transport Commissioner Apostolos Tzitzikostas stated there is no need to intervene in how people live, work, and travel. Instead, the EU executive will coordinate energy flows, including scheduled gas storage refilling, a new fuel data observatory, and opening to alternative jet fuel supplies. Next week, the Commission is expected to ease state aid prohibitions until at least year-end.
The plan also aims to accelerate the bloc’s electrification efforts. Electric car sales were up 40% in March due to rising fuel prices. A new electrification plan, including the EU’s first electrification target, will be presented in mid-June to encourage a shift from gas-fired boilers to heat pumps. Measures to reduce electricity bills, such as tax cuts and lower grid fees, are also expected. However, the Commission’s push to fast-track power grid rule overhauls has been rejected by European capitals and MEPs.