Overview
- European Commission President Ursula von der Leyen said the EU will present market‑stabilizing energy measures this month and speed domestic power projects.
- She reported that the bloc paid more than €22 billion extra for fossil fuel imports in 44 days without receiving more energy.
- The price shock followed late‑February attacks on Iran that choked traffic through the Strait of Hormuz, a corridor that carries about a fifth of global oil and gas trade.
- Near‑term steps under consideration include joint gas purchasing, coordinated storage filling, a possible release of oil reserves, looser state‑aid rules, and energy‑saving programs.
- The longer push prioritizes more home‑produced electricity, grid upgrades, a faster shift to electrification, adjustments to the EU carbon market, and an investment drive that includes small modular nuclear reactors.