Since the war in Iran began at the end of February, the Union's bill for imported energy has increased by 24 billion euros. The reason is higher prices, and not a single extra molecule of fuel has been gained by EU countries, the European Commission notes.
Even if there is peace tomorrow, the consequences could linger for years, especially when it comes to gas, Jørgensen believes.
This must be a wake-up call, he says at a press conference in Brussels with his colleague Teresa Ribera.
Act together
The energy package is a set of recommendations, not binding legislative proposals, to help member states deal with rising energy prices and potential shortages that may arise in the future. In short, it is about reducing dependence on fossil fuels and providing opportunities to support vulnerable households and businesses.
But there are no proposals urging companies to introduce working from home, which was included in previously leaked drafts.
The European Commission is also pressing that EU countries must coordinate better, otherwise they risk competing with each other when they are out to buy gas to fill up their stocks, for example.
We must act quickly and together, Jørgensen says.
The coming months will be filled with uncertainty.
Concerns about aviation fuel
Right now, there is a particular focus on jet fuel. The International Energy Agency (IEA) has warned that it could run out within six weeks. The European Commission is proposing a special monitoring body to keep track of production, imports, exports and stock levels. The idea is that the EU will then be able to react more quickly if a shortage situation arises.
In the current situation, the Commission believes that it is justified for countries to support households and businesses, and state aid rules can also be relaxed temporarily. However, the support must be temporary and targeted at those who are most affected.
We must protect the vulnerable. This crisis will have major social consequences, Teresa Ribera says.
