The European Commission proposes "AccelerateEU", a set of measures to protect citizens and the economy from energy price volatility. The plan includes support for households and industries, as well as accelerating the transition to clean energy.

The European Commission has announced a new plan, called 'AccelerateEU', aimed at protecting citizens and the European economy from the volatility of energy prices, in the context of recent geopolitical tensions. Since the escalation of the conflict in the Middle East, the EU has spent an additional 24 billion euros on energy imports. Ursula von der Leyen, the President of the Commission, emphasized that accelerating the transition to clean energy is essential for energy security. The plan includes short-term measures, such as coordinating gas and oil stocks, establishing a Fuel Observatory, energy vouchers for vulnerable households, and a temporary framework for state aid. Additionally, the electrification and modernization of energy networks will be accelerated, with the aim of mobilizing significant investments, estimating a need of approximately 660 billion euros annually until 2030. The proposals will be discussed by European leaders at the meeting in Cyprus, scheduled for April 23-24.