During her speech at the Davos Forum, European Commission President Ursula von der Leyen outlined a forthcoming plan to tackle energy costs across the European Union.
With energy affordability and security high on the agenda, the Commission is set to unveil a detailed strategy in February aimed at reducing prices, diversifying supply, and accelerating the transition to clean energy.
Energy Independence and Affordability
Von der Leyen highlighted the EU’s progress in reducing dependence on Russian fossil fuels following the invasion of Ukraine. The bloc has significantly reduced its imports of Russian gas, oil, and coal, achieving near-independence from Russian energy supplies. However, this shift has come at a cost, with households and businesses facing skyrocketing energy bills.
“Freedom came at a price,” von der Leyen said. “Our competitiveness depends on getting back to low and stable energy prices.”
She underscored the importance of clean energy as a medium- to long-term solution, offering not only cost advantages but also job creation and energy independence.
Investing in Next-Generation Energy Technologies
The European Commission’s plan will focus on investments in cutting-edge energy technologies to secure affordable and sustainable energy. These include:
- Nuclear fusion: Offering a cleaner and potentially limitless energy source by fusing atomic nuclei at extremely high temperatures.
- Enhanced geothermal energy: Harnessing heat from deep within the Earth for energy production.
- Solid-state batteries: Advanced storage solutions to support renewable energy and electric mobility.
Von der Leyen stressed the need for private capital to modernise electricity grids and expand storage infrastructure. “We must remove barriers to our energy union and better connect clean and low-carbon energy systems across Europe,” she noted.
Completing the Energy Union
The new plan will also aim to finalise the EU’s energy union, ensuring clean power can move freely across member states. This effort is intended to bring down costs and stabilise the energy market for all Europeans.
“Already today, Europe generates more electricity from wind and solar than from all fossil fuels combined,” von der Leyen stated. “But we still have work to do to translate these benefits into lower prices for businesses and citizens.”
A Roadmap for Competitiveness
Von der Leyen tied the energy plan to a broader strategy for enhancing Europe’s economic competitiveness. This includes measures to increase productivity, foster innovation, and simplify regulatory frameworks, creating an environment conducive to investment in clean energy technologies.
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A United Europe Ready for Change
The Commission’s energy strategy is part of a broader vision for Europe’s economic and environmental future. Von der Leyen concluded by emphasising the EU’s resilience and commitment to collaboration in the face of global challenges.
“Europe has weathered an unprecedented energy crisis. We did this together, and we can do it again,” she said. “When Europe is united, it gets things done.”
The energy plan is expected to be a cornerstone of the EU’s efforts to balance economic recovery with climate goals, strengthening its position as a global leader in clean energy innovation and sustainability.
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