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Europe's energy crisis

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EU countries face nearly €41bn in extra fossil fuel costs

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Economy

Eurozone inflation hits 2.9%: Where did prices rise most?

Eurozone inflation rose to 2.9% in July, but price pressures varied widely across member states. Here's where inflation accelerated, eased and how markets reacted.

Europe News

Ireland unveils blueprint to electrify economy by 2050

Dublin's plan takes into account a surge in electricity demand over the coming decades, driven by electric vehicles, industry and rapidly expanding data centres, which will place growing pressure on the national grid.

Europe News

Wind, solar and heat pumps can free EU from LNG dependence – study

If the EU meets its solar and wind deployment targets, it could cut gas demand by around one-quarter by 2030, with savings that could exceed the amount of LNG the bloc is expected to import from Qatar. But Europe's climate and energy transition is giving China a unique opportunity.

Tech News

Italy plots nuclear comeback four decades after Chernobyl

Forty years after Chernobyl ended Italy's nuclear ambitions, Giorgia Meloni's government wants small modular reactors back on the table — but cost and generational divides could complicate the comeback.

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Business

Italy petrol tops €2.6: opposition and groups sound alarm, govt weighs variable fuel duty

Fuel costs are back in the spotlight: in Milan and on motorways prices exceed €2.60 a litre. Opposition parties and associations warn of hikes hitting families and firms, while the Meloni government drafts measures to stem the crisis.

EU.XL

EU pushes to triple energy storage as renewable power goes to waste

EU energy ministers signed the first-ever tripartite agreement to boost the bloc’s energy storage capacity on 26 June. The EU needs 200 gigawatt (GW) of storage capacity by 2030, compared with the current 55. 22 member states promised to add around 30-35 GW of new capacity by 2028.

The Big Question

‘The clock is ticking’: Why Europe urgently needs a single market

BusinessEurope’s new president urged the need to deliver the single market quickly: “If we do not give some hope for the future, the political world in Europe will suffer.”

Earth News

Renewables power 46% of EU electricity – but bills stay high

The EU has hit a renewable energy milestone. Which countries are leading – and which are lagging behind?

Climate

Germany and France energy bills soared by €700 million during heatwave

Exclusive: Heatwaves are showing up on Europe’s energy bills – should fossil fuels face a windfall tax?

Europe News

EU eyes jet fuel reserves as Strait of Hormuz crisis threatens supply

With the peak summer season drawing near, EU energy ministers are wary that jet fuel supply may be further strained, even as analysts see "sharp movement" towards greater jet fuel production within European refineries.

Business

Germany: Growth halves as public sector drives investment

The energy shock is further slowing economic growth and fuelling prices. The DIW institute has halved its growth forecast. Fiscal expansion may soften inflation but cannot fully offset it.

Business

AI and energy security drive investment focus at Baku Energy Week 2026

Baku Energy Week 2026 showcased how AI, digitalisation and regional gas diplomacy are reshaping the global energy sector, as companies and officials increasingly focus on competitiveness, energy security and cleaner technologies.

Business

Chevron enters Greek offshore project as Europe seeks energy security

Chevron has applied to join a Greek offshore exploration area known as Block 10 in the Ionian Sea, in a move that could strengthen Greece's role in Eastern Mediterranean energy security.

The Europe Conversation

‘Electrification is key to save Europe’s industry,’ IEA tells Euronews

The International Energy Agency's chief Fatih Birol told Euronews that the EU should embrace the 'age of electricity' to boost industrial competitiveness.

Business

Germany turns to Canadian LNG as Iran war fuels energy fears

Canada has reached an agreement to export liquefied natural gas to Germany from a planned Pacific coast terminal, an official familiar with the matter said on Tuesday.

Europe News

EU cuts GDP forecast as Strait of Hormuz crisis pushes inflation up

The EU has downgraded its 2026 economic growth forecast after the Strait of Hormuz crisis sent energy prices sharply higher earlier this year. With no end to the conflict in sight, rising energy costs are fuelling tensions among member states calling for additional fiscal support measures.