During yesterday’s European Council, EU leaders met to discuss the new energy shock hitting Europe, with some of them looking towards deregulation measures and major changes to the EU Emissions Trading System (ETS) as possible solutions.
The European Union starts applying a new automatic and dynamic mechanism for price adaptation of the Oil Price Cap for Russian crude for the first time from 15 January.
Renewable energy sources accounted for 47.5 per cent of gross electricity consumption in the EU in 2024, a 2.1 per cent increase over 2023, according to figures from Eurostat.
A European Grids Package and Energy Highways initiative, proposed by the EU Commission, is aimed at enabling energy to flow efficiently across all Member States, integrating cheaper clean energy and accelerating electrification.
The European Commission has announced the opening of three new funding opportunities under the Innovation Fund with a total budget of €5.2 billion in EU Emissions Trading System (EU ETS) revenues.
The EU Council and Parliament have agreed to ban imports of Russian natural gas from entry into force in early 2026 of the Regulation for spot-market liquefied natural gas (LNG), with a ban for pipeline gas from September 2027.
The EU Commission has granted 235 cross-border energy projects eligibility to apply for funding from the Connecting Europe Facility to strengthen interconnectivity across Europe and with neighbouring countries.
