EU nations seek energy alternatives after spending over $113 billion extra since Iran war began
EU ministers are weighing demand cuts and faster electrification as gas prices climb and storage remains about 70% full, officials said.
- European Union energy ministers gathered in Dublin to address soaring costs, as member nations have spent over 100 billion euros on energy imports since the outbreak of the Iran war.
- Following the closure of the Strait of Hormuz, consumers in some European countries pay nearly 50% more at the pump, equivalent to more than $11 a gallon, disrupting global oil supplies.
- Republicans in key states have called for a ban on diesel exports, casting doubt on President Donald Trump's 2025 deal to sell $750 billion worth of energy to Europe, which relies on imports for about 50% of its diesel supply.
- European Union energy commissioner Dan sent "a very clear signal" to authorities to scrap the ban while urging European ministers to replace imported fossil fuels with homegrown energy sources.
- Finnish environment minister Sari Multala pointed to her country as an energy independence model, where nuclear reactors, turbines, peat bogs, and hydropower dams provide 95% of Finland's electricity at "very reasonable prices.
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345 Articles
The European Union's gas storage facilities are not full enough, but demand is increasing. The EU Energy Commissioner calls for energy saving because of possible bottlenecks.
The EU pays more than an additional 100 billion for energy. Brussels boosts electrification and networks to reduce dependence on fossil fuels.
Energy dependence on the block and rising prices of gas and oil benefit foreign corporations and suppliers, while citizenship and industry weigh heavily on the EU.
Graça Carvalho has reinforced that Brussels must consider "the diversity of countries" and has revealed that it will put questions "in writing" in the reply to the letter sent by the European Commissioner for Energy.
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