- Energy diversification: The EU has significantly reduced its dependence on Russian fossil fuels and now imports only 15% of its gas from Russia (down from 45% in 2021).
- Renewable growth: For the first time, Europe produced more electricity from renewables than from gas, with record growth in solar and wind power.
- Energy security: The EU’s strategic actions have ensured secure and affordable energy and reduced the risk of blackouts, even in the event of global disruptions.
Launched in May 2022, the European Commission’s REPowerEU plan aims to transform the European energy landscape by reducing dependence on Russian fossil fuels and increasing renewable energy production. This strategic move was driven by the energy crisis triggered by Russia’s invasion of Ukraine, which exposed the EU’s vulnerability to energy supply disruptions.
Diversification of energy supply
Since the invasion, the EU has drastically reduced its dependence on Russian energy imports. “Almost half of the EU’s gas imports came from Russia,” the European Commission noted. Thanks to sanctions and efforts to find alternative sources, only 15 percent of gas imports now come from Russia. The EU banned seaborne imports of Russian crude oil, refined petroleum products and coal, significantly reducing Russian gas imports and paving the way for future independence from Russian energy.
Strengthening energy security
To prevent energy shortages, the EU has introduced a system to fill gas storage facilities before winter. In 2022, member states agreed to fill underground gas storage facilities to 80% of their capacity by November, exceeding this target and reaching 95%. In mid-August 2023, the target was again met, demonstrating a coordinated approach to securing energy supplies.
This proactive approach ensured that gas storage reached a record 59% of total capacity by the end of the winter heating season in April 2024. “We are better prepared and more united than ever,” the European Commission stressed, highlighting Europe’s resilience to energy supply shocks.
Accelerating the energy transition
The transition to renewable energy is another cornerstone of REPowerEU. In 2022, Europe produced more electricity from wind and solar than from gas for the first time. The renewable energy sector has experienced significant growth: a record 96 GW of new solar capacity and 33 GW of new wind capacity have been installed since the start of the plan.
“We have doubled our solar energy production since 2019,” the Commission stressed, pointing to the success of these initiatives in reducing CO2 emissions and promoting green jobs. The revised Renewable Energy Directive, which will enter into force from November 2023, sets the ambitious target of increasing the share of renewable energy to 42.5% by 2030, with the potential to reach 45%.
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Financing the future
To support these profound changes, the European Commission has mobilised almost €300 billion through the Recovery and Resilience Facility (RRF). Additional grants and funds from the Brexit Adjustment Reserve as well as the sale of Emissions Trading Certificates (ETS) have further strengthened financial support for REPowerEU.
The REPowerEU plan is a crucial step towards making Europe more sustainable, secure and energy independent. By reducing its dependence on external energy sources and investing in renewable energy, the EU is taking the lead in developing a greener and more resilient energy landscape.
