The chairs of the European Green Party have reacted to research from the Financial Times and thinktank Bruegel confirming that Europe’s dependence on fossil fuels is a causing price volatility and making the EU vulnerable to geopolitical shocks.
Ciarán Cuffe, Co-Chair of the European Green Party:
“Energy prices in Europe remain directly exposed to volatile global fossil fuel markets. When geopolitical tensions escalate, including the war between the United States, Israel and Iran, oil and gas prices react immediately, and these increases are rapidly transmitted into higher costs for transport, heating and electricity for people across Europe.
This shows how the current system works: Europe does not control the price shocks it is exposed to. As long as we remain dependent on fossil fuel imports, instability abroad is translated into higher costs at home.
The EU must act faster to scale up renewables, strengthen grids and storage, and improving energy efficiency. The delays in doing so come at a high price for European households.”
Vula Tsetsi, Co-Chair of the European Green Party:
“Price rises in energy costs are not just an economic pattern, it is a political failure that leaves people in Europe permanently exposed to shocks along the supply chain. Every crisis in the fossil fuel market becomes a price shock for European households.
But this situation is not inevitable. A renewable energy system that delivers stability, autonomy and protection for people in Europe is possible.
Europe cannot remain in the hands of fossil fuel interests and lobbies that profit from this dependency. That is why we call on the European Union to treat energy independence as an urgent security priority.
We need to urgently speed up the roll-out of renewables, with stronger European coordination on energy infrastructure, and a clear political decision to end our exposure to fossil fuel markets. Failing to do that thus far is costing people dearly on their energy bills.”
