EU Measures to Boost Energy Independence and Affordability

Investment in Clean Energy

The European Commission has introduced initiatives to enhance investment in clean energy, aiming to reduce reliance on imported fossil fuels and lower energy prices. The Clean Energy Investment Strategy seeks to bridge the gap between available private capital and necessary investments, with the European Investment Bank Group planning to provide over €75 billion in financing over the next three years.

Infrastructure and Consumer Focus

Efforts to improve energy infrastructure and empower consumers are central to the Commission's plans. The Citizens Energy Package proposes actions to lower energy bills, enable citizens to produce and share clean energy, and combat energy poverty. Measures include faster supplier switching, reduced taxes, and more transparent billing.

Small Modular Reactors and Strategic Autonomy

The Strategy for Small Modular Reactors (SMRs) outlines actions to deploy the first operational SMRs by the early 2030s, supporting industry development through the European Industrial Alliance on SMRs. An additional €200 million InvestEU top-up from the Innovation Fund is considered to support innovative nuclear technologies until 2028.

Long-term Energy Competitiveness

The proposed measures align with the Affordable Energy Action Plan to enhance Europe's competitiveness and energy affordability. The Commission has also proposed a significant increase in the CEF Energy budget from €5.84 billion to €29.91 billion for 2028-2034, marking a new phase in the clean energy transition.