The European Commission announces the "Accelerate EU" plan to address the energy crisis

The European Commission announced a package of actions called “Accelerating the European Union” on the 22nd, aimed at alleviating the impact of recent energy price surges on European households and businesses, and promoting the EU’s move toward “energy independence.” The European Commission issued a press release stating that in less than five years, Europe has suffered a heavy toll for the second time due to reliance on imported fossil fuels. Since the escalation of the Middle East situation, the EU has spent an additional 24 billion euros on energy imports due to rising energy prices, but has not gained additional energy supplies as a result. According to the plan, the European Commission will strengthen coordination with member states to ensure the smooth implementation of measures such as supplementing underground natural gas reserves and releasing emergency oil reserves. The EU will also monitor the production, import/export, and inventory levels of transportation fuels to quickly identify potential shortages, making fuel allocation measures more targeted. The European Commission proposed measures such as income support and energy subsidies to protect consumers and related industries from price surges. To accelerate the energy transition, the EC stated that it will propose an electrification action plan before this summer, and strengthen grid construction and promote investment. European Commission President von der Leyen said on the same day that the choices made now will determine Europe’s ability to respond to current challenges and future crises, emphasizing the need to accelerate the shift to domestically produced clean energy, which will help Europe achieve energy independence and security, and better withstand geopolitical shocks. ( Xinhua News Agency )