Iran Crisis, von der Leyen: “Renewables and nuclear energy are the way to a less vulnerable Europe”

“The disruptions in the Gulf are rapidly affecting prices everywhere. There are price spikes already. For this reason, G7 Energy Ministers met yesterday, followed by a video call with the G7 leaders. But regardless of our measures, as long as we import a significant share of fossil fuels from unstable regions, we are vulnerable and dependent. And this energy always comes at a cost. Just an example: since the beginning of the conflict, gas prices have increased by 50% and oil prices by 27%. Translating this into euros, 10 days of war already cost European taxpayers an additional €3 billion in fossil fuel imports. This is the price of our dependence. On the cost of energy and on market design. Overall, the current market structure has worked and receives general support. However, it is crucial to reduce the cost impact when gas determines the price of electricity,” said von der Leyen in her speech at the plenary session in Strasbourg.