The EU remains highly dependent on energy imports, especially fossil fuels, exposing its economy to billions in avoidable costs and CO₂ emissions.
This is the key finding of a new analysis by the Öko-Institut, commissioned by WWF Germany.
The calculations show that while the volume of energy imports into the EU declined by 10% over the past decade, costs increased by 33%. After deducting export revenues, net import costs amounted to €296 billion in 2025 alone, roughly equivalent to the EU’s 1.5% GDP growth in the same year.
Oil accounts for the largest share of Europe’s energy import bill, while significant fluctuations in natural gas markets have substantially increased import costs since 2020. Together, oil and gas imports account for nearly 90% of the EU’s import bill.
Yet the study also highlights a substantial opportunity. According to the analysis, around 85% of today’s fossil fuel imports could be replaced through a combination of electrification, renewable energy deployment, and energy efficiency measures. Doing so could have saved the EU more than €250 billion in 2025 alone while avoiding roughly 1,8 billion tonnes of CO₂ emissions, representing just over half of the EU’s total greenhouse gas emissions in that year.
The findings underline that reducing fossil fuel dependence is an economic and geopolitical necessity, not just a climate issue. Investing in renewable energy, electricity grids, storage technologies and energy efficiency would strengthen Europe’s resilience while keeping more money circulating within the European economy instead of flowing abroad to pay for imported fuels. The €250 billion figure alone could cover nearly 40% of the EU’s annual investment needs for the clean energy transition.
“Oil and natural gas imports are the energy policy Achilles’ heels of Europe, and they significantly fuel the climate crisis. At the climate conference in Dubai, governments committed to transitioning away from fossil fuels and tripling global renewable energy capacity. Now those commitments must be translated into action. As long as we remain dependent on fossil fuels, we will continue to be vulnerable to geopolitical risks and escalating climate damages instead of investing in a future-proof Europe,” says Felix Schmidt, energy expert at WWF Germany.
The report comes at a pivotal moment. In the coming weeks, governments gathering at the international climate negotiations at COP31 will discuss accelerating the global transition away from fossil fuels, including a worldwide electrification target of at least 35% by 2035, a key priority of the Turkish COP Presidency. At the same time, governments across Europe are grappling with constrained public budgets and growing investment needs.
The findings also carry important implications for the European Commission’s upcoming 2040 climate and energy package, expected early next year. To reduce Europe’s exposure to costly fossil fuel imports, WWF calls for the package to include a strong renewable energy target to accelerate the deployment of clean, home-grown energy across the Union.
“We cannot keep lurching from one fossil fuel energy crisis to the next. The solutions already exist. Renewable energy systems, including solar and wind, are cleaner, cheaper, home-grown, and ready to deploy. The challenge now is to accelerate their roll-out to shield the most vulnerable people that are directly impacted by the ongoing fuel-cost crisis,” said Arnaud Van Dooren, Senior Policy Officer on Renewable Energy at WWF EU.
“The billions given to big polluters for decades must be reallocated to renewable energy, energy efficiency, and electrification solutions. This crisis is again benefiting those polluting our air, water and soils. After two major fossil fuel crises in the past four years, climate and energy policies must evolve to prevent EU citizens from being exposed to fossil fuel price spikes and unpredictable geopolitical changes. The upcoming climate and energy package is an opportunity to make this happen,” concluded Van Dooren.
