Brussels, 19 October 2022
In the last seven months, there has been a fundamental shift in EU energy policy, as a response to Russian aggression against Ukraine and the resulting exceptionally and security of supply concerns.
To help readers understand these changes and expand their knowledge of the European Union’s actions to restore the security of supply and lower energy prices, the Council Library has compiled a library guide of relevant and authoritative resources.
This includes books and articles, decisions and measures taken at EU level, selected podcasts and videos and well-documented websites. It is by no means exhaustive.
What is the energy crisis?
The EU has experienced an unusual increase in energy prices that has been further aggravated by the military aggression by Russia against Ukraine. EU countries are united and closely coordinating their efforts in a spirit of solidarity to secure the EU’s energy supply and mitigate the impact of high energy prices on consumers and on the economy.
In addition to national measures, a coordinated and solidarity-based approach by EU Member States is essential to address high energy prices and the EU’s security of energy supply. Immediately after the war broke out, the Member States committed to ending their dependence on Russian energy and set out a strategy to achieve it.
In the spring, a new common EU gas storage policy was agreed. In July, the 27 member states agreed to reduce gas demand voluntarily by 15% this winter, with the possibility of mandatory cuts.
On 6 October 2022, EU member states formally adopted a Council regulation on an emergency intervention to address high energy prices. Exceptional electricity demand- reduction measures, which will help reduce the cost of electricity for consumers, were agreed. The regulation also contains measures to redistribute the energy sector’s surplus revenues to final customers.
EU energy ministers are committed to working on further measures to address high energy prices and security of supply. At the meeting of EU leaders on 20 and 21 October, the situation of energy prices, security of supply, market optimisation and demand reduction will be main focal points during the discussion on energy.
This post does not necessarily represent the positions, policies, or opinions of the Council of the European Union or the European Council.
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Source – EU Council