REPowerEU Plan GIIA Briefing Paper
The publication this week of the REPowerEU Plan by the European Commission signifies an important step forward as the EU seeks to reduce its dependence on gas and oil from Russia. Building on last year’s Fit for 55 package the proposals set out ambitious new targets on renewables, including solar, green hydrogen and biomethane, as well as new initiatives to save energy, boost investment and revise permitting procedures.
On top of this the European Commission has acknowledged the need to be ready and prepared for a severe supply disruption, calling on Member States to pre-emptively implement the EU Save Energy Plan to help refill underground storage facilities, update contingency plans, conclude bilateral solidarity arrangements between neighbouring countries and support transmission system operators to accelerate measures to increase reverse flow capacities of gas by next winter.
European leaders are expected to discuss energy developments, including REPowerEU proposals, at an upcoming special meeting of the European Council on the 30-31 May, with more information to follow.
In this briefing, GIIA highlights key announcements from the plan, as well as some of the other key documents published alongside it, including a new Solar Strategy and a communication on accelerating international energy collaboration.