Lifecycle
- Effective
- Last change
Country / jurisdiction: European Union · Year: 2022 · Status: In force · Level: International · Type: Voluntary
The REPowerEU Plan was elaborated by the European Commission at EU leaders' request, in response to the energy market disruption and supply disruptions brought by Russia's invasion of Ukraine.
The Plan notably aims at rapidly reducing the EU's dependence on Russian fossil fuels by accelerating Member States clean energy transition. It outlines a series of measures to save energy, diversify supplies, accelerate the rollout of renewables, reduce fossil fuel consumption in industry and transport, and induce "smart investments". It also includes policy options to limit electricity and gas price surges, and regulate gas storage filling. It states that the European Commission will intensify its work on the critical raw material supply issue and prepare a legislative proposal on the subject.
The European Commission estimates that overall the REPowerEU Plan entails an additional public and private sector investment of EUR 210 billion by 2027, and identifies funding streams among existing European programmes and facilities.
Official source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2022%3A230%3AFIN&qid=1653033742483
Source
https://www.iea.org/policies/15112Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.