ERT Statement on EU Energy Policy

The European Round Table for Industry (ERT) today issues a statement sharing its views on the vital subject of accelerating energy transition, in the context of the upcoming REPower EU package.

ERT Members lead European companies across a wide variety of sectors, including major energy producers & suppliers, as well as energy-intensive industries. We strongly condemn the invasion of Ukraine by Russia and support the EU’s efforts to mitigate the impact of the war on the energy system in Europe.

Although today’s high energy prices were first caused by the scarcity created by the economic boom and the rise in energy demand globally after the lockdowns during the Covid-19 pandemic, prices have surged further due to the war in Ukraine and because of the EU’s dependency on fossil fuels, in particular gas, oil and coal from Russia. The geopolitical instability and uncertain outlook propel an increase in the risk premium – and thus higher prices – to obtain energy.

This statement released today contains our main views on 3 points:

1) on how to reduce this dependency whilst accelerating the energy transition;

2) on the role of market principles and

3) on the need to preserve the competitiveness of European industry.

Download the full statement at the link below.