00:00The Commission is dabbling down on renewables and nuclear as Europe's long-term shield to price shocks.
00:06Since the beginning of the conflict 44 days ago, our bill for fossil fuel imports has increased by over 22
00:14billion euros.
00:15European Commission President Ulsa von der Leyen made these calculations on April 13
00:20as the U.S.-Iran war chokes the Hormone Strait, the passage for fossil fuel flows to global markets.
00:27The crisis has sent energy prices surging across Europe, hitting households and businesses already under pressure.
00:34The Strait of Hormone's closure is hitting Europe through disrupted fossil fuel supply chains,
00:39rising gas and oil import costs, surging household energy bills and pressure on European industrial sectors.
00:45We are paying a very high price for our over-dependency on fossil fuels.
00:51Von der Leyen's answer, stop depending on fossil fuels you cannot control
00:55and focus on nuclear and renewables.
00:58Renewables and nuclear already account for over 70% of Europe's electricity generation,
01:04but the Commission says the system has a critical flaw.
01:07Insufficient energy storage, outdated and slow electricity grids
01:11and huge volumes of clean power going unused or wasted.
01:15To fix that, Brussels is fast-tracking the electricity grids modernisation,
01:20originally due by the end of this year.
01:22Now, Von der Leyen wants it passed by the end of this summer.
01:26And nuclear is back at the centre of the conversation, including a push for small modular reactors or SMRs.
01:33Across the EU, the nuclear map is shifting.
01:36Fifteen member states now back nuclear in the European Nuclear Alliance,
01:40including France, Poland, Czech Republic, Romania and Sweden.
01:44Belgium and Italy are actively reversing earlier phase-out plans.
01:48Germany and Austria remain opposed, while France leads the charge,
01:52with plans for six new EPR-2 reactors and an EU-wide SMR strategy targeting early 2030s deployment.
02:00But what's Brussels' plan?
02:02On April 2022, the European Commission presented a package of energy measures
02:06to speed up the shift to clean, affordable and secure energy,
02:10while addressing high prices driven by the Iran war.
02:14The Commission's immediate action plan is all about coordinated EU gas storage
02:18to stop member states competing against each other on markets,
02:22joint release of oil reserves to stabilise supply,
02:25targeted income support for households and sectors,
02:28and flexible state aid rules to be adopted this month.
02:32This is the second major energy crisis in just three years.
02:36The message from Brussels is that the solution isn't just managing one, it's not having one.
02:42For the full story, read our in-depth explainer on euronews.com.
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