STRASBOURG, FRANCE / RankWire.AI / – European Commission President Ursula von der Leyen has put forward a plan for a more unified approach to joint EU energy buying. This move comes as fuel prices have surged significantly. She explained that a new task force would consolidate energy demands across countries and designate a market operator to oversee collective procurement. This initiative would go beyond the current system of matching individual buyers and sellers. Von der Leyen revealed this during a European Parliament session before the European Council meeting set for October 15 and 16.
Von der Leyen highlighted that gas prices in Europe have increased by 140% since late February. Diesel costs have doubled during this period. She pointed out that rising fossil fuel import costs have added around €100 billion to Europe’s expenses, without boosting the energy output. The European Commission plans to extend a temporary state aid scheme for the hardest-hit industrial sectors. It also supports targeted assistance for vulnerable households, citing energy voucher programs in France and Romania as examples.
In addition, the Commission pairs the procurement proposal with measures focused on energy supply and refining. On October 2, G7 nations agreed to release 100 million barrels through the International Energy Agency over four months. A significant diesel release is planned in the first 20 days. The EU will also grant exporters an extra year of flexibility under methane regulations. Von der Leyen stated this measure would help reduce additional costs amid current market strains.
Focus Shifts to Supply Coordination
The European Commission will initiate a strategic dialogue with European refineries to tackle costs and supply issues. Energy Commissioner Dan Jørgensen and Defence Commissioner Andrius Kubilius will lead these discussions. Von der Leyen said the talks would also cover supplies needed for defense. She pointed out the stark differences among national energy markets. Electricity prices vary from about €145 per megawatt-hour in one country to roughly €70 in another, depending on energy sources.
The new joint energy buying group builds on measures introduced after Russia sharply cut gas supplies in 2022. During that time, the EU pooled demand and coordinated efforts among European buyers to secure energy. Von der Leyen mentioned that Russian gas made up 45% of EU imports then. That share has now decreased to 12%. The Commission aims to eliminate Russian gas imports entirely by the end of 2026, as part of its current energy strategy.
Electrification Continues to Be a Priority
Von der Leyen connected short-term actions to the EU’s long-term push for more domestic clean electricity. She noted that over 70% of EU electricity now comes from renewable and nuclear sources. Last year, wind and solar generated more electricity than all fossil fuels combined. The EU added over 80 gigawatts of renewable capacity during that time. Yet, projects equal to about six times that capacity are waiting for grid connections.
Electricity accounts for less than 25% of the EU’s final energy consumption. The Commission’s electrification plan aims to double that share by 2040. Von der Leyen said increased electrification could reduce fossil fuel imports by as much as €260 billion annually. The Commission will introduce further measures in the coming months to support this transition. EU leaders will also discuss rising energy prices, supply security, and economic challenges at their October 15 and 16 meeting.