EU ministers agree to include energy self-sufficiency in recovery plans.
European Union (EU) member states’ finance and economic affairs ministers, meeting in Luxembourg on Tuesday, agreed to include energy self-sufficiency in their national recovery and resilience plans. The REPowerEU project, proposed by the European Commission in May, aims to strengthen the Union’s strategic autonomy by diversifying energy supply sources, making the EU less dependent on Russian fossil fuels. It also aims to stimulate energy conservation and clean energy production.
“Certainly, this proposal aims to include a new chapter of REPowerEU in the National Recovery and Resilience Plans (RRPs) of the EU Member States under the Next Generation EU (EU Economic Recovery Package). REPowerEU’s”, according to the Council of the European Union.
An additional amount of 20 billion euros (approximately included in the financial envelope of the Resilience and Recovery Fund.
The supply curve linked to the additional €20 billion supply will include factors such as integration policy, member states’ dependence on fossil fuels and rising investment costs. The REPowerEU proposal must now be discussed by the European Commission, the European Parliament and the European Council.
Jules Capas with the agency / ECO Inspirations