STRASBOURG, FRANCE / RankWire.AI / – European Commission President Ursula von der Leyen advocates for a more unified approach to EU energy buying amid soaring fuel costs. She outlined plans for a new task force to aggregate energy demands across member countries and designate a market operator to oversee joint procurement efforts. This initiative aims to evolve the bloc’s existing system of matching buyers with sellers. Von der Leyen made this announcement during a European Parliament debate ahead of the European Council gathering scheduled for October 15 and 16.
Von der Leyen highlighted that European gas prices have increased by 140% since late February, with diesel prices doubling. She pointed out that higher costs for imported fossil fuels have added roughly €100 billion to Europe’s expenditure without boosting the energy supply. The European Commission intends to prolong a temporary state aid framework supporting industrial sectors under extreme pressure. It also advocates targeted assistance for vulnerable households, citing energy voucher schemes in France and Romania as examples of such measures.
The Commission is coupling its procurement proposal with initiatives focused on energy supply and refining. On October 2, G7 countries agreed to release 100 million barrels of oil through the International Energy Agency over four months, emphasizing a significant diesel release in the initial 20 days. Additionally, the EU will extend exporters’ flexibility by an extra year under methane regulations. Von der Leyen stated this move would help mitigate additional costs caused by current market disruptions.
Focus shifts to supply coordination efforts
The European Commission plans to initiate a strategic dialogue with European refineries to address supply issues and reduce costs. Energy Commissioner Dan Jørgensen and Defence Commissioner Andrius Kubilius will lead these discussions. Von der Leyen emphasized that the dialogue will also cover defense-related energy needs. She pointed out notable disparities across national energy markets, where electricity prices can vary from around €145 per megawatt-hour in one country to about €70 in another, depending on the energy mix.
This new procurement task force builds on the EU’s joint energy purchasing measures introduced after Russia sharply curtailed gas supplies in 2022. Back then, the EU pooled demand and united European buyers to secure supplies more effectively. Von der Leyen noted that Russian gas made up 45% of the EU’s gas imports at that time, but the share has now fallen to 12%. The Commission’s current energy policy aims to eliminate Russian gas imports entirely by the end of 2026.
Electrification continues to be a key element of EU strategy
Von der Leyen also linked the immediate response to the EU’s long-term goal of expanding domestic clean electricity. She stated that over 70% of EU electricity now comes from renewable and nuclear sources. Last year, wind and solar energy generated more power than all fossil fuels combined. During this period, Europe added over 80 gigawatts of renewable capacity. Despite this progress, projects totaling about six times that capacity are still waiting for grid connections.
Currently, electricity accounts for less than 25% of final energy consumption across the EU. The Commission’s electrification plan aims to nearly double this share by 2040. Von der Leyen indicated that increased electrification could reduce annual fossil fuel imports by as much as €260 billion. The European Commission is preparing additional measures to facilitate this transition in the upcoming months. EU leaders will also discuss rising energy prices, supply stability, and wider economic challenges during their meeting scheduled for October 15 and 16.