Fit for 55: How to deliver ambitious climate targets while protecting consumers?
WATCH THE RECORDING HERE
The EU Commission “Fit for 55” places Europe as the global leader on climate ambition. The EC package has charted a path to reach further decarbonisation in 2030, with a special focus on decarbonising transport and buildings. It also proposes ambitious targets for energy efficiency and renewables, all complemented with social measures to ensure the energy transition will be inclusive, leaving no one behind.
European gas prices have rocketed in the past months as tight gas supplies have coincided with strong demand in economies recovering from the COVID-19 pandemic. At the same time, gas storages have not recovered their usual seasonal levels. EU countries have already taken a range of measures to combat the impacts of rising energy costs, such as social schemes for low-income households and temporary tax breaks on electricity prices.
The negotiations on the "Fit for 55" package will be happening in the midst of high concerns about the impact that the current prices might have on vulnerable consumers and industry competitiveness.
Meeting the 55% goal also represents “a significant investment challenge” according to the European Commission, which warned that investments in clean energy will have to increase by “around €350 billion per year” in order to achieve the new 2030 objective.
Join this EURACTIV Virtual Conference to discuss what is the scope for a renewed regulatory framework. Questions to be addressed include:
- To what extent is regulatory stability key to attract investment in decarbonisation and preserve the path to an energy transition in the context of rising energy prices?
- What regulation framework fits best in the current context and what impact can it have in the long-term?
- How to keep plans to tackle climate change on track amid spiking energy costs and gradually increasing ETS prices?
- What scope is there for increasing global ambitions, given EU internal energy market challenges and an impending hard winter?
- How can the use of renewables be reinforced and swiftly accelerated?
- What role can electrification play?
WATCH THE RECORDING HERE
Nicolás González Casares MEP, Member ITRE Committee, European Parliament
Adela Tesarova, Head of Unit Consumers, Local Initiatives and Just Transition, DG ENER, European Commission
Jaume Loffredo, Energy Policy Officer, BEUC
Elisabetta Cornago, Research Fellow, Centre for European Reform
Julio Castro, Chief Executive Officer, Iberdrola Renovables Energía
Frédéric Simon, Journalist, EURACTIV
09:30 – 09:35 Welcome
09:35 – 09:50 Panellist statements
09:50 – 10:40 Discussion and Q&A
10:40 – 10:45 Closing statements
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Europe's new climate legislation needs to help citizens transition to renewable energy while protecting them from price shocks caused by volatile fossil fuel prices, according to Nicolás González Casares, a Spanish lawmaker for the Socialists and Democrats.