
EU agrees to cut energy consumption by 11.7% by 2030
Negotiators from EU member states and the European Parliament struck a deal on Friday to reduce final energy consumption across the bloc by 11.7% by 2030.
The deal comes as the bloc struggles to reduce reliance on Russian energy and tackle climate change.
“Saving energy is a fundamental step to save the planet,” European Commission Vice-President Frans Timmermans said in a statement.
“In recent months, Europeans have shown that they are ready and able to face this challenge, and our industry has proven that it can optimize its energy use and production processes,” he added.
The Green Deal will be forwarded to the European Parliament and member states for a final vote. This is usually a formality, with bills often passed without amendment.
Why did the EU increase the cut percentage?
Friday’s deal comes as an amendment to an earlier target of 9%, initially proposed in 2021. It forms part of the EU’s plans to achieve climate neutrality by 2050.
However, when Russia invaded Ukraine, the need for European countries to reduce their dependence on fossil fuels, of which Russia was the biggest supplier, became more urgent.
“This will mean real change for the benefit of the climate and to the detriment of [Russian President Vladimir] Putin,” Reuters news agency said, quoting Niels Fuglsang, the parliament’s chief negotiator.
What does the agreement mean for the 27 members?
The deal comes as a compromise between the European Parliament, which was pushing for the much higher target of 14%, and some EU countries that wanted to keep the original 9%.
This means that EU member states are expected to save an average of 1.49% of final energy consumption per year between 2024 and 2030.
The agreement stipulates that the target would be legally binding. While bloc members are free to set their own non-binding national target, if they do not meet the 11.7% target, the European Commission will step in to set a course.
Source: DW

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.