The energy sector in the European Union has seen significant advancements and changes in recent years. With a focus on reducing reliance on non-renewable energy sources, oil and gas dependency on Russia and accelerating the adoption of renewable energy, the EU is pursuing a cleaner and more resilient energy future.
The 5 important EU key actions and strategies in the energy sector that foster the growth of a more sustainable future are the following:
- Diversifying energy sources
A significant change in Europe’s energy landscape is marked by the diversification of pipeline gas sources. Prior to the invasion of Ukraine, Russian pipeline gas exports made up about 40% of the EU’s total gas supply, but today it has decreased down to less than 10%.[1] With the switch from Russian gas, Norway and the United States have taken over as the major gas suppliers.[2] This change not only improves energy security but also complies with the wider sustainability objectives of the EU.
- Reducing natural gas consumption
The EU cut its natural gas usage by 17.7% between August 2022 and March 2023, compared with the average gas consumption for the same months (August to March) between 2017 and 2022, marking an important achievement.[3] This decrease highlights the EU’s commitment to reduce its carbon footprint and switch to cleaner energy sources.
- Raising renewable energy targets
Another ambitious step towards a greener future is the EU’s revised Renewable Energy Directive. By raising the binding renewable energy target for 2030 to a minimum of 42.5%, the EU accelerates the uptake of renewable energy sources by nearly doubling the existing share of renewables within the energy mix.[4]
- Introducing the hydrogen economy
The EU’s commitment to a sustainable hydrogen economy is seen in its multidimensional approach. The creation of the European Hydrogen Bank (EHB) is one of the first fundamental steps, facilitating both domestic market growth and international imports of hydrogen.[5] Additionally, the EU is allocating substantial funding to accelerate Hydrogen Valleys’ rollout and foster advanced hydrogen sector skills.[6]
- Faster permitting processes
The EU recognizes the importance of faster and more efficient deployment of renewable energy projects. Through the introduction of “renewables acceleration areas,” Member States are encouraged to expedite the permitting process for wind power projects. It is foreseen that permits will be granted within six months to a year for projects in these renewables’ acceleration areas, which is a big step forward from the up to 10 years in similar projects.[7]
As the EU fosters innovation, refines regulations and sets ambitious targets, the EU is on a journey to ensure a cleaner, greener, and more resilient energy framework.
