Thread by @Pieter_de_Pous

Yesterdays Energy Council tells a depressing story about the EU and energy.

80% of debate dedicated to a solution every expert says doesn't work: gas price cap

And 20% dedicated to a solution that works and then not agree to it: cutting gas demand

But its not the whole story🧵

https://twitter.com/EU2022_CZ/status/1604917323261005824

Simone here sums up rather well why the gas price cap won't solve Europe's energy problems

https://twitter.com/Tagliapietra_S/status/1604924857728335891

What makes things worse is that Energy Ministers failed to agree to raise renewables ambition by 2030 to 45% which would have taken another 118 bcm bite out of EU gas consumption by 2030: ember-climate.org/insights/resea…

But it is not the whole story.

First of all, many EU countries have already responded to the current crisis by increasing their plans to build out more renewables which will see RES share in power rise to 63% by 2030: ember-climate.org/insights/resea…

Secondly, last weekend saw a.o an agreement reached on reform of the EU's Emission Trading System and a CBAM which could drive coal out of EU power and steel making by mid 2030s
shttps://twitter.com/Pieter_de_Pous/status/1605115493983014912

Thirdly, partial agreements have been reached on other elements of the RePowerEU plan.

Especially the agreement on financing and permitting should help build confidence among MS that this is making it possible to achieve 45%.

Fourth, 8 countries including heavyweights like Germany and Spain put out a declaration stating that 'an increase of the renewables target to 45% is indispensable to improving energy security and reducing EU dependencies from fossil fuels.'

This group of countries already successfully blocked an early agreement with EP and EC at 40% and sends a clear signal to the incoming #EU2023_SE Presidency about where it needs to compromise with the EP and EC who both back 45%

And it puts the spotlight on countries like 🇳🇱 🇮🇪 🇫🇷 whose Ministers at #COP27 were at the front line of a push for more ambition on phasing out fossil fuels and will now face domestic pressure to join the group of 8 MS supporting 45%

https://twitter.com/Pieter_de_Pous/status/1604742491739136001

The good news here is that in the trade-off between quality and speed, the EU has prioritised quality over speed and an agreement on 45% RES remains within reach

Given how absolutely exhausted EU energy negotiators are atm this is no small feat

At the same time, we should be under no illusion:

If Ukraine would not have successfully and heroically fought back against Russia's genocidal war, the EU would not have hit the clean energy accelerator as it has done now

it adds to the debt of gratitude the EU owes Ukraine

When everyone gets back from their Christmas break we better make sure the EU takes its foot of the break and finally unites behind the measures that actually work

End

Text of the declaration can now be seen here:

https://twitter.com/GenicotD/status/1605188472511565825