In an attempt to eliminate energy dependence on Russia, Europe is actively exploring all possible options. Although alternative supply sources are a good solution, they cannot completely address fuel shortages. The region needs to take more serious steps, primarily towards the so-called green energy.
Depriving themselves of Russian oil and gas, European countries have not been able to fully power their economies. Rising energy prices have pushed inflation steadily higher. Only record-high winter temperatures across the region have helped them avoid a power crisis. Learned from bitter experience, local authorities are already making preparations for the next heating season by filling storage sites, establishing supply chains, as well as mastering alternative energy sources. In a speech at the Munich Security Conference, European Commission executive Vice-President Frans Timmermans called renewable energy the only way for European Union countries to achieve energy independence.
“We are accelerating our transition to renewable energy as we have no alternative in Europe. The only dominance we can achieve in the energy sector is to increase renewable energy,” Timmermans said, adding that Europe “leaves with very little gas, very little coal and no oil.”
Earlier, European Energy Commissioner Kadri Simson noted that the European Union had "eliminated 90% of Russian oil imports, and pipeline gas deliveries have fallen significantly."
