On Thursday 7 September, the Director General of the European Commission’s DG Energy, Ditte Juul Jørgensen, discussed energy priorities and preparations for the winter with MEPs on the Committee on Industry, Research and Energy.
The Director welcomed the fact that the energy situation was “much better” than in 2022, with storage levels reaching 90% in mid-August, ensuring “a comfortable winter”, and gas prices of between €30 and €40 per megawatt-hour (compared with over €300 in the summer of 2022), but nevertheless urged caution.
“Prices are still volatile and markets nervous. There is always a risk of an imbalance between demand and supply. There is also a threat of industrial action in Australia which, admittedly, doesn’t have much impact on us because we don't buy much energy there, but as the markets are international, the risks are always there”.
She called on the co-legislators to rapidly adopt a clear legal framework, expressing concern that “issues left open for too long” were creating uncertainty and a risk for investment. This is particularly the case for the reform of the electricity market, on which a position from the Council of the EU is still awaited (see EUROPE 13213/9), and the gas package, which is at the inter-institutional negotiation stage (see EUROPE 13224/16).
She also mentioned the European Commission’s current initiative to strengthen temporary solidarity measures, as well as the possibility of extending certain emergency measures, such as market correction mechanisms, or developing a more structured instrument for joint purchases.
The AggregateEU platform (see EUROPE 13218/8) for the joint purchase of gas ends at the end of the year.
Ditte Juul Jørgensen also returned to the importance of developing energy networks (see other news) and the need for investment in interconnection mechanisms, highlighting the challenge facing the Iberian peninsula.
On the subject of nuclear energy, she stressed that it was part of the transition and would help to ensure Europe’s energy security.
“Between now and 2050, nuclear power will remain a zero-carbon energy source, and it is clear that the share of nuclear power in the energy mix will be between 10% and 15% in 2050. Small modular reactors could be part of the solution” (see other news). (Original version in French by Pauline Denys)