EU warns of energy price impact on transition
Commission urges against knee-jerk policy reactions as record energy prices make transition more abrupt and difficult
Record high energy prices in Europe are making the green transition “more abrupt and difficult” and policymakers should be prepared for a scenario in which prices “get out of hand”, the European Commission says in an end of year address. Natural gas prices in northwest Europe have surged in recent months and hit record levels in December, drawing on concerns about storage levels and the outlook for flows from key supplier Russian amid tensions over gas transit country Ukraine. More expensive gas has led to increased use of coal-fired power plants, even with surging carbon emissions prices. High energy prices are also feeding into inflationary pressures which threaten to slow the progress of
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence