SGI Europe welcomes the principles of the REPowerEU initiative published on 8 March on the security of supply, energy efficiency, the roll-out of renewable energy sources and more decarbonisation by electrification and by hydrogen.
For SGI Europe, the upcoming REPowerEU Plan should target:
- Short-term measures based on demand reduction, the opportunity for additional voluntary joint procurement of EU gas purchases and giving European citizens the benefits of energy at stable costs. Due to the fact that even such a stable price will be significantly higher than the prices we have seen in the last decades, forms of compensation might be needed.
- In the mid-term, SGI Europe encourages the European Commission to reinforce the security of supply further while ensuring the objectives of sustainability and affordability by optimising the use of available resources within the EU.
- In the long-term, the Green Deal remains the only way forward, with an emphasis on increasing ambition while allowing for flexibility and technology-neutrality. On the financial side, it is necessary to set schemes into motion to enable the huge investments we are facing to accelerate the EU race out of fossil fuels.
