Power prices and the war in Ukraine

"Unjustified Russian aggression against Ukraine has made the clean energy transition even more urgent. We must indeed reduce EU dependency on fossil fuel imports and aim at carbon neutrality. In relation to this, I want to reiterate the European power sector’s commitment to be fully carbon-neutral well before 2050 and express our industry’s support for more investments in all clean and renewable electric solutions that will help the EU to reduce its dependency on fossil fuel imports.

While Ukrainian utilities are making sustained efforts to restore electricity supply to consumers, EU companies have responded to the call to provide assistance. We welcome the synchronisation with the EU grid as a means to cut the Ukrainian dependency on Russia and ensure constant electricity flows in the event of power plant shutdowns.

It is now high time that Europe shields itself against the fossil fuel price volatility, which has prompted the energy price increase across the continent. This root cause must now be tackled, and Europe must wean itself from imported fossil fuels.

Electrification is undeniably the optimal solution to meet Europe’s decarbonisation targets, but also to ensure energy sovereignty, thanks to the expansion of clean and renewable installations."

- Eurelectic President Jean-Bernard Lévy to the European Council, March 2022


Updates from Ukraine

Price rises and policy responses

The European Commission’s initial response to the price rise in October laid out solutions for Member States to mitigate the impact on end-consumers: lowering taxes & levies on electricity bills, accelerating the rollout of new clean energy sources, and targeted measure for energy efficiency and to vulnerable customers. Since, the beginning of the conflict, their approach has changed. REPowerEU, still promises to enhance renewables capacity and energy efficiency but now with the overriding goal of removing Europe’s dependency on Russia fossil fuels by the end of 2022. Click here to view the list of key documents on the European Commission website.

Yet, it also opens the way to measures and interventions which could undermine the energy transition, threaten the financial health of the industry, and dissuade investment. Now more than ever, the sector needs policy certainty and investor confidence

Scroll down to follow the latest developments and how Eurelectric is responding.


Country-by-country analysis

Countries across Europe have been affected by the rise in electricity prices but are responding in different ways, some good some bad. Click here to see our detailed overview of the impacts on and actions of 25 countries across Europe.

Austria

Belgium

Bulgaria

Cyprus

Czech Republic

Denmark

Estonia

Finland

France

Germany

Greece

Ireland

Italy

Latvia

Luxembourg

The Netherlands

Poland

Portugal

Slovak Republic

Slovenia

Spain

Sweden

Switzerland

Türkiye

United Kingdom


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