Europe’s energy security directly depends on its ability to reduce vulnerability to gas price shocks and external suppliers. To do this, the EU needs to accelerate the electrification of the economy, eliminate distortions in the electricity market and reduce dependence on fossil fuels, which continue to undermine the continent’s strategic sovereignty.
This was stated in a comment to Guildhall by Giorgio Gori, a member of the European Parliament from Italy, Deputy Chairman of the Committee on Industry, Research and Energy of the European Parliament.
— What steps can Europe take to achieve energy independence?
— To achieve energy independence, Europe needs to increase the level of electrification of final consumption from the current 22% to 50% by 2040. This would reduce fossil fuel imports by two-thirds by integrating renewable energy sources, including nuclear power, with a special focus on investments in next-generation systems, energy storage technologies and digital load management.
It is equally important to prioritize industrial efficiency by replacing gas-fired boilers with technologies such as heat pumps that are three times more efficient. These steps are seen as key to ensuring the stability of supply chains and restoring Europe’s strategic sovereignty.
— What changes in energy policy should the EU and its member states make in the coming years?
— Energy policy priorities should be shifted towards eliminating distortions in the electricity market, including breaking the link between the kilowatt-hour price and the gas price cap.
Member States should reduce electricity taxation, which today is paradoxically often higher than gas taxation, and speed up procedures for approving new installations. It is extremely important to introduce tools such as Industrial Decarbonisation Bank to share initial investment risks with businesses.
Finally, it is necessary to address the lack of technical skills so that small and medium-sized enterprises can also adopt mature electrical technologies.
— How do you assess the idea of increasing domestic oil and gas production in Western countries, especially in terms of its potential impact on defense capabilities?
— Europe cannot compete in terms of fossil energy costs with players like the United States, which have relied on domestic drilling.
Protecting the continent’s competitiveness and sovereignty should be based on domestic energy production from decarbonized sources, which reduces dependence on geopolitical price volatility. Therefore, the focus should not be on scaling up hydrocarbon production, but on technological leadership and systemic efficiency as the only viable path to Europe’s macroeconomic stability.
Guildhall News Agency, exclusively.
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