As highlighted in the Draghi report, high energy costs are at the core of the challenges Europe is facing. While significantly lower than during the 2022 energy crisis, energy prices are still significantly higher than our competitors, and largely differ across EU Member States, remaining a source of concern for many industries and European citizens. These are mainly driven by Europe’s reliance on imported fossil fuels amounted close to EUR 375 billion in 20241, and
structural inefficiencies due to incomplete integration of the EU electricity system.
