In autumn 2021, the EU has been going through an energy crisis due to a dramatic surge in fossil fuels prices. As per November 2021, gas prices in Europe are five times higher than a year ago. Coal prices have followed a similar evolution. Simultaneously, electricity prices in Europe hit record highs reaching more than € 200 per MWh in some countries which is around five times higher than the average electricity price in the EU a year ago.
The European Energy Research Alliance (EERA) puts forward its position regarding the current crisis in Europe which has resulted in energy bills becoming unaffordable for many households and has challenged economic activity across the bloc.
The scale of the evolving situation has triggered a multitude of statements, many of which have no factual foundation and are inaccurate and misleading on the root causes of the observed energy prices surge. In this period of intensifying speculations on the future of energy, it is more than ever essential to provide a transparent analysis based on scientific evidence and proven facts.
The document below presents EERA’s position and refutes the arguments that wrongly claim that the clean energy transition sparked the crisis. On the contrary, it strongly calls for accelerating it with the aim of shielding Europe from future fluctuations in the highly volatile fossil fuel prices.