EU Commission President Leyen: The era of cheap energy is over

Ursula von der Leyen, President of the European Union (EU) Commission, claimed that the era of “cheap energy” has come to an end because of the war between Russia and Ukraine, saying: “The gas tanks of Europe are full, we are safe for this”. winter.”

Von der Leyen, speaking at the session of the General Assembly of the European Parliament (EP) held in Strasbourg, stated that the world supply of natural gas has been reduced due to the war between Russia and Ukraine and that the amount of gas that Russia has sent to Europe by pipeline has decreased. decreased by 80 percent in the last 8 months.

‘THE CHEAP ENERGY BUSINESS MODEL WILL NOT COME BACK’

“Everything we do has a price. The supply of cheap energy from Russia was part of the business model of many European industries. This model was smashed by Russia’s attack on Ukraine. The truth is that this model is not coming back,” Leyen said, recalling that in the absence of Russian gas, Europe faced much higher fossil fuel prices.

Leyen stressed that the only sustainable way for European industry and SMEs is to transition to renewable energy, saying that the renewable energy transformation cannot happen overnight.

RESPONSE TO US LAW

“There is a risk that legislation to reduce inflation in the United States could lead to unfair competition.” Ursula von der Leyen, who made the assessment, said the logic of buying American goods in law, tax cuts that could lead to discrimination and production subsidies that could go against Europe were worrying.

Leyen noted that they should address these issues and that Europe should respond by preparing a law to reduce inflation. Expressing that EU countries should change their rules to increase and facilitate public investments, Leyen explained that they should work with the US to address the most concerning aspects of this law and accelerate the green transformation.

Ursula von der Leyen, who emphasized that the European industry needs a structural solution to maintain leadership in green transformation in the medium term, added that they will present the proposal to establish a fund in this field in the summer months when the long term will be evaluated. long-term EU budget. (AA)