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Renewable energy in the EU

Kratki prikaz 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 ...

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 ...

This briefing provides a summary of all scrutiny activities of the European Parliament related to euro area monetary policy in the period between September 2023 and November 2023. For a recap of the key monetary policy developments and decisions taken by the European Central Bank in that period, please refer to our briefing published ahead of the 27 November Monetary Dialogue. We publish these documents regularly ahead and after each Monetary Dialogue with the European Central Bank.

This At A Glance - Study In Focus provides information on the proposed reform of the electricity market design which maintains crucial elements of the existing system to ensure continued efficient operation. The impact that changing the rules on longer-term contracts will have on consumer prices and investment will depend on the concrete language of proposed legislation as well as its ultimate implementation. Overall, neither the expected mode of impact of individual reform elements, let alone their ...

Comparing Fed and ECB monetary policies

Detaljna analiza 15-11-2023

The European Central Bank and Federal Reserve have taken similar approaches to tightening monetary policy to tackle high inflation. However, relative to the US, euro area inflation has been driven more by supply shocks and less by strong demand. The euro area economy is also weakening while the US economy is still growing solidly. Markets expect the Fed to ease more than the ECB in 2024 but falling inflation and a weak euro area economy may see the opposite occur. This document was provided by ...

This paper compares the inflation dynamics and the monetary policy stance in the euro area and the United States. The paper also discusses the challenges that monetary authorities confront on the two sides of the Atlantic, also considering the uncertainties brought about by the ongoing crisis in the Middle East. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ...

Revised EU emissions trading system

Kratki prikaz 08-11-2023

The EU emissions trading system (ETS) has been successful in reducing greenhouse gas (GHG) emissions from industry, electricity generation and aviation. The revision of the EU ETS under the 'fit for 55' package raises its ambition, extends emissions trading to maritime transport, buildings and road transport, and gradually phases out free emissions allowances, while phasing in a carbon price for certain imports.

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 ...

The fishing sector is facing major challenges in the accelerating energy crisis, owing to its high dependency on the stable supply of fossil fuels at low prices. This report reviews the literature on drivers of energy use, identifies potential reduction measures and provides an overview of opportunities for using alternative fuels in the fishing sector. Each measure is evaluated in terms of greenhouse gas emission reduction potential and costs, and challenges and policy options that could facilitate ...

Inflation and inequality

Detaljna analiza 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 ...