Europe to address energy crisis with more targeted support

European ministers have acknowledged that horizontal measures to support people could delay the energy transition

Big Zero Report 2022

European ministers have come together to discuss their countries’ responses to the energy crisis.

A recent report by think tank Bruegel estimated that 27 EU countries had already earmarked €314 billion (£273bn) to stave off the pressure from soaring energy bills while the UK had allocated €178 billion (£155bn).

The Eurogroup meeting in Luxembourg concluded that horizontal measures for the energy crisis end in 2023.

Officials agreed on avoiding policies that could add risks of inflationary pressures and “make societies poorer for longer”.

President of the Eurogroup Paschal Donohoe said: “These measures have provided timely support, but we acknowledged in a Eurogroup statement the fact that they weigh increasingly on national budgets and could have the risk of delaying the energy transition.

“Therefore, we agreed today in our joint statement to focus our support on measures that are cost efficient, focus on income, can be temporary and, where possible, targeted on the most vulnerable in our societies.”

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