Iran war costs EU €500M a day, von der Leyen warns – POLITICO

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Von der Leyen framed the conflict as further proof that the EU should accelerate its shift away from imported fossil fuels and electrify faster.

“The way forward is obvious. We must reduce our overdependency on imported fossil fuels and boost our home-grown, affordable, clean energy supply. From renewables to nuclear, in full respect of technology neutrality,” she said.

Von der Leyen said the Commission will present an Electrification Action Plan by the summer, including an “ambitious” EU-wide target. A draft Commission agenda seen by POLITICO showed the plan is now expected on June 10, alongside a broader strategy on strengthening energy security.

The Commission president renewed calls for faster progress on the EU’s Grids Package, which is currently being negotiated by EU lawmakers and governments and aims to upgrade infrastructure to handle more renewable power and rising electricity demand.

She also urged closer coordination on diesel and jet fuel reserves, oil stock releases and output from refineries, measures which are part of Brussels’ broader response to the energy crisis unveiled by the Commission last Wednesday.