Russia’s invasion of Ukraine has further highlighted Europe’s overdependence on Russian gas, oil and coal imports. These disruptions in energy imports have caused European gas and electricity prices to soar having an annual €100 billion impact on European taxpayer’s wallets while increasing energy security concerns within the region.
In response to this threat, EU leaders agreed in the European Council in March 2022 to phase out Europe’s dependency on Russian energy imports as fast as possible. This gave rise to the REPowerEU plan that builds upon the Fit-for-55 proposals and sets out a detailed pathway to a fast clean energy transition with the hopes of being independent of Russian fossil fuels as early as this year.
Veyt specialises in data, analysis, and insights for all significant low-carbon markets and renewable energy.
