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In concrete terms, this plan called RePowerEU - "giving power back to Europe" - is based on three pillars: developing energy savings, diversifying supplies (liquefied natural gas - LNG - hydrogen) and accelerating the green transition by boosting renewable energies.
It is thus a question of facilitating the installation of wind turbines and photovoltaic panels on the roofs of buildings by loosening the regulatory vice.
Russian hydrocarbon imports represented 99 billion euros last year.
With soaring energy prices and blackmail from the Kremlin, Europe must wean itself off as soon as possible.
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European energy ministers sharpen the response to Russia
To hear a European source, RePowerEU can also be considered as “
a departure from the green deal
” which aims for carbon neutrality by 2050 since investments are planned in LNG or, to a lesser extent, in oil.
According to this source, RePowerEU would require 210 billion euros of public and private investment by 2027. This amount would be financed, in part, by redeployments in the European budget, in particular taken from the agricultural policy (CAP) and the cohesion fund.
Member states would also have
“the possibility of amending their respective recovery plan to create a RePowerEU chapter”.
However, the Commission is proposing to generate 20 billion euros in new revenue by auctioning off pollution permits that had been set aside.