EU energy costs top €100 billion extra as winter risks expose import dependence

  • Dan Jorgensen urged the EU to reduce imported-energy dependence through electrification and renewable power.
  • €100 billion extra was spent this year without additional gas or oil deliveries.
  • Jorgensen said winter challenges remained despite no current or expected supply crisis.

The European Union has paid more than €100 billion ($113 billion) in additional energy costs this year without receiving extra gas or oil, European Commissioner for Energy and Housing Dan Jorgensen said. Speaking before an informal meeting of EU energy ministers in Dublin, Jorgensen said the figure showed the risks of relying on imported energy and underscored the need to replace imported fossil fuels with domestically produced renewable electricity. Ministers are discussing the bloc’s electrification action plan and a grids package intended to strengthen cross-border power connections and reduce costs for consumers and industry. Jorgensen said the EU was not facing, and did not expect, a security-of-supply crisis, although the coming winter could be difficult. He also said he had warned US Energy Secretary Chris Wright against any diesel export ban and was encouraged by Wright’s public opposition to such a measure. Europe’s exposure to imported energy has increased since it began moving away from Russian supplies after Russia’s full-scale invasion of Ukraine in 2022. Earlier reporting linked the additional costs to higher prices following the closure of the Strait of Hormuz, a waterway that carried one-fifth of globally traded oil in peacetime. The bloc is particularly exposed to diesel disruption, with about 50% of its diesel supply coming directly from the United States, while a proposed US export ban has raised questions about President Donald Trump’s 2025 agreement to sell $750 billion of energy to the EU. Ireland’s Darragh O’Brien said a ban was unlikely but urged the EU to prepare for the worst. Finland’s Sari Multala pointed to her country’s nuclear, wind, peat and hydropower resources, which she said produce 95% of its electricity.

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