|Author (Person)||Grajewski, Marcin|
|Author (Corporate)||European Parliament: European Parliamentary Research Service|
|Series Title||EPRS Briefings|
|Series Details||PE 739.302|
|Publication Date||January 2023|
Energy prices have recently fallen in the European Union, easing slightly the energy crisis for consumers and businesses caused by Russia’s 11-month-long war on Ukraine. EU emergency measures, diversification of supplies and a benign winter have all helped to reduce energy costs, which skyrocketed after Russia curtailed fossil fuel exports with the aim of pressing the EU to reduce support for Ukraine, and in response to EU sanctions on Moscow. In December, EU governments agreed to cap gas prices, with a view to better shield European households and businesses from price spikes, which have fuelled inflation and undermined economic growth.
On 17 January, European Commission President Ursula von der Leyen stated that she would propose a Net-Zero Industry Act, which envisages a number of clean tech objectives for 2030, as a response to the US's vast, green subsidy package, the 'Inflation Reduction Act'. Nevertheless, the difficulties in securing Europe's energy supply in the long term will not be easily overcome. This note gathers links to recent publications and commentaries from many international think tanks on the energy market. Earlier publication on the topic can be found in a previous edition of the ‘What Think Tanks are Thinking’ series.
|Subject Categories||Business and Industry, Economic and Financial Affairs, Energy, Internal Markets|
|Subject Tags||Energy Markets|
|International Organisations||European Union [EU]|