Overall, it emphasized an accelerated switch away from fossil fuels and toward clean electricity.
“Coordination is key,” the Commission wrote in a press release Wednesday, saying the first priority would be to coordinate on gas storage filling, oil stock releases and “national emergency measures” to ensure supply of jet fuel and diesel.
“Our AccelerateEU strategy will bring both immediate and more structural relief measures to European citizens and businesses,” Commission President Ursula von der Leyen said in a statement. “We must accelerate the shift to homegrown, clean energies. This will give us energy independence and security, and mean we are better able to weather geopolitical storms.”
The plan contained no major changes to the Emissions Trading System, with a thorough review expected in July. However, it said the Commission would “assist Member States who wish to explore the use of revenues from the EU ETS for targeted measures that mobilise and accelerate investments in electrification … industrial decarbonisation, in circular downstream applications and investments that help reduce electricity prices…” the document said.