Vice-President Maroš Šefčovič delivered a speech at the Bloomberg EU Policy Series event, emphasizing the European Union’s efforts to secure Europe’s economic future and foster the green transition amid the ongoing energy challenges faced by EU industry.
Addressing the audience, Vice-President Šefčovič highlighted the importance of evidenced-based, strategic, anticipatory analysis in policymaking. He stressed that the EU’s ability to effectively respond to climate change, digital technologies, and geopolitical shifts will shape the future of Europe.
Regarding the energy crisis, Vice-President Šefčovič acknowledged that while the situation has somewhat stabilized, vigilance and learning from the experience are crucial. He pointed out that the crisis exposed the need to enhance Europe’s energy resilience and highlighted Russia’s weaponization of energy.
To address these challenges and ensure Europe’s leading role in the global economy, Vice-President Šefčovič outlined several measures taken by the EU. These include the Net Zero Industry Act, designed to accelerate clean tech projects and diversify supply for net-zero technologies. The Temporary Crisis and Transition Framework allows Member States to provide aid to prevent company relocations and promote investment in Europe.
Additionally, Vice-President Šefčovič highlighted the new design for the electricity market to accommodate the future decarbonized economy. He emphasized the success of the EU Energy Platform, which facilitates gas supply contracts, and announced the launch of the second round of tendering, expecting even greater participation.
Looking ahead, Vice-President Šefčovič called for leveraging the EU Energy Platform as a blueprint for other sectors such as hydrogen and critical raw materials. Joint purchasing of commodities could prevent price wars and ensure the achievement of political objectives while preserving economic competitiveness and strategic autonomy.
Vice-President Šefčovič concluded by emphasizing the need to harness the full political and market weight of the EU, enable cooperation among European companies, and extend joint purchasing mechanisms to other sectors. This approach will contribute to the green and digital transitions and reinforce Europe’s position in an increasingly polarized world.
The Vice-President expressed readiness to answer questions and engage in further discussions on these important topics.
https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_23_3713