Boosting EU's energy independence and lowering costs

The European Commission has presented initiatives to boost investment in homegrown clean energy solutions, increase resilience, and reduce energy prices. 

The current geopolitical context highlights the risks related to Europe's reliance on imported fossil fuels. Citizens and industries are rightly concerned about high energy prices. Investing in clean energy is the most affordable and reliable mid-term solution.

Cheaper energy for EU citizens

The citizens' energy package puts people at the centre and supports the most vulnerable. It will 

• help reduce energy bills
• empower citizens to produce and share their own clean energy
• combat energy poverty

Consumers will also benefit from 

• faster switching between suppliers
• lower taxes and levies on electricity bills
• more transparent information on energy bills and contracts

Making the most of Europe’s energy sources

Europe also needs a change in its energy system and infrastructure. The clean energy investment strategy will help 

• bridge the gap between the available private capital and the investments needed
• mobilise private finance for grids, innovative clean energy technologies and energy efficiency

The Commission will deliver this strategy with the European Investment Bank Group, which intends to deliver more than €75 billion of financing over the next 3 years to support clean energy transition. 

Homegrown, clean energy technologies for reliable and affordable energy

Strengthening European capacity and building robust supply chains for net-zero technologies is essential to reducing import dependencies and ensuring strategic autonomy. The strategy for small modular reactors (SMRs) will help EU countries deploy the first operational SMRs in the early 2030s. It will also support industry in accelerating their development and deployment. The Commission will consider an additional €200 million InvestEU top-up to support the deployment of initial commercial units of innovative nuclear technologies through de-risking guarantees. 

A flexible European supply chain is key to

• securing technological and industrial leadership
• developing skilled workers
• strengthening regulatory cooperation
• ensuring the highest safety standards

The proposed measures build on the affordable energy action plan. They aim to strengthen Europe's competitiveness, reduce energy dependencies and lower energy costs for households. The Commission will continue presenting additional measures to further enhance Europe’s energy security and affordability.

For more information

Press release

Factsheet

Q&A clean energy investment strategy

Q&A SMR strategy

Affordable energy

European grids package

Competitiveness