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Renewable energy in the EU

Lyhyesti 04-03-2024

Due to the recent energy crisis, there is a growing focus on renewable energy sources within the European Union (EU) as a possible solution to challenges such as energy security and high prices. The 2023 Renewable Energy Directive (RED) requires the EU to achieve a 42.5 % share of renewable energy sources (RES) in gross final energy consumption by 2030. As of 2022, the EU has reached a 23 % share of renewables in its energy consumption. In analysing the EU’s energy landscape, it is crucial to note ...

Access to housing in the EU has become problematic in recent years. Demography and urbanisation-related structural factors, aggravated by the COVID-19 pandemic, the conflict in Ukraine, soaring energy prices, the cost-of-living crisis and (already high) housing prices that keep rising are preventing many people from accessing decent housing solutions. The lack of affordable housing supply only adds to this situation. These difficulties affect not only low- but now also middle-income households, as ...

On 14 March 2023, the European Commission proposed a reform of the EU electricity market, with the aim of reducing price volatility for consumers and creating favourable conditions for investors in low-carbon energy. The reform includes two legislative proposals – one on electricity market design (EMD) and the other on protection against wholesale energy market manipulation (REMIT). The reform would improve consumer protection by offering more fixed-price contracts and enhancing supplier obligations ...

The focus of this study is the effect of inflation on the ongoing implementation of the current MFF on an aggregate level. The relevant inflation impacts and the channels via which they take effect are presented and analysed for the MFF and the EU revenue system. The study then maps and discusses policy options to mitigate these effects regarding the ongoing MFF and NGEU implementation, as well as with a view to the ongoing MFF mid-term revision.

Energy poverty in the EU

Briefing 18-09-2023

In 2022, over 41 million Europeans were unable to keep their homes adequately warm. Energy poverty is a multi-dimensional phenomenon, considered to be caused by a combination of low income, high energy expenses, and poor energy efficiency in buildings. The EU has been addressing this issue in various legislative and non-legislative initiatives, most recently in the context of its climate policies and energy transition, as well as the energy crisis. The Gas and Electricity Directives ensure the protection ...

Inflation and inequality

Selvitys 25-05-2023

Inflation is often confused with changes in relative prices. The recent sharp increase in energy prices, which has also pushed up food prices, has hit poorer households especially hard, thus creating the impression that inflation increases inequality. However, it is the large changes in relative prices and not the average inflation rate (of now 7%) that is the real problem. We also show that rents – which are more important for low-income households – provide a significant offset for higher energy ...

The current situation in Ukraine has led to severe supply chain disruptions, contributing to a sharp increase in food and commodity prices globally and the limitation of fossil fuel imports from Russia to the EU. Moreover, to end Europe's dependence on semiconductor suppliers from Asian countries, it is necessary to take immediate action of a structural nature, involving all EU Member States and all participants in regional supply markets. The overall aim of this study was to identify drivers of ...

On 14 March 2023, European Commission launched two legislative initiatives: one to improve European electricity market design, the other to offer better protection against market manipulation on the wholesale energy market. These targeted reforms address shortcomings revealed by the current energy crisis, in particular price volatility and security of supply. They also introduce long-term changes necessary to achieve the Green Deal targets. EU electricity market design development started in 1996 ...

This study analyses the design and functioning of windfall profit taxes for energy suppliers in the EU. Based on profit data from 2021, the estimated revenue gains from the solidarity contribution amount to 4.4 bn EUR for the selected sample of firms. Applying the revenue cap to power prices of 2022 suggests a tax revenue of 106 bn EUR. The actual tax revenue might diverge substantially from these numbers due to different energy price levels during the application period. The revenue can be redistributed ...

The energy crisis of 2022 has brought new challenges for the EU electricity market. Concerns over very high prices (driven in part by their coupling with gas prices), security of energy supply, and the need to increase decarbonisation have sparked discussions on the need to redesign the EU's electricity market. The EU has already taken a number of short-term measures to contain the energy crisis. The REPowerEU plan of May 2022 was introduced to phase out Russian fossil fuel imports, diversify supplies ...