Sector & service specialists

Energy

Europe’s energy sector spans numerous, often competing interests spanning renewables, oil, gas and nuclear though to electricity distribution.

Thanks to Russia’s invasion of Ukraine, the EU plans a “massive” increase in solar and wind power, and a short-term boost for coal, to end its reliance on Russian oil and gas as fast as possible. The European Commission said the EU needs to find an extra €210bn over the next five years to pay for phasing out Russian fossil fuels and speeding up the switch to green energy.  The Commission also proposed that 45% of the EU’s energy mix should come from renewables by 2030, an advance on the current 40% target suggested less than a year ago. Officials also want to cut energy consumption by 13% by 2030 (compared with 2020), in comparison with the current proposal of a 9% saving.

Given the rapidly evolving situation with sanctions on imported Russian fossil fuels, Brussels lobbyists are hyperactive this year.  At the last count there are over 50 trade associations focussed on energy, and three of Brussels top 10 corporate affairs spenders (ExxonMobil, Equinor and BP) are energy companies. Moreover, every sector is an energy consumer which means EU energy policy is a vitally important horizontal policy area.

People’s well-being, industrial competitiveness and the overall functioning of society are dependent on safe, secure, sustainable and affordable energy. The energy sector, covering extraction, production and distribution directly employs in the EU about 1.6 million people and generates an added €250 billion to the economy, corresponding to 4% of value added of the non-financial EU business economy.

European Commission

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