The European Commission today presented the REPowerEU plan to respond to the stresses and disruptions in the global energy market caused by Russia's invasion of Ukraine.
Transforming Europe's energy system is doubly urgent: it serves to end the EU's dependence on fossil fuels from Russia, which are used as an economic and political weapon and cost European taxpayers nearly EUR 100 billion a year, and it helps address the climate crisis. By acting as a Union, Europe can more quickly end its dependence on fossil fuels from Russia. 85% of Europeans believe that the EU should reduce its dependence on Russian gas and oil as soon as possible to help Ukraine. The REPowerEU plan measures can meet this target by saving energy, diversifying energy supplies and accelerating the expansion of renewable energy to replace fossil fuels in homes, industry and power generation.
The green transition will deliver more economic growth and security in Europe and among our partners, and strengthen climate action. The Build and Resilience Facility (ARF) is at the heart of the REPowerEU plan and supports coordinated planning and financing of cross-border and national infrastructure and energy projects and reforms. The Commission is proposing targeted amendments to the ARF Regulation to include specific REPowerEU chapters in Member States' existing ARFs, in addition to the many relevant reforms and investments already included in ARFs. The country-specific recommendations in the 2022 European Semester cycle will feed into this process.
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