Europe News
EU countries face nearly €41bn in extra fossil fuel costs
European countries have spent unforeseen billions of euros on fossil fuel imports due to the drastic surge in prices that followed the war against Iran. Meanwhile, European and international groups are urging Ursula von der Leyen to set out a plan to phase out fossil fuels.
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Europe News
Euroviews. Geothermal energy promises domestic power - the EU is hesitating
The EU runs the risk of standing idly by whilst the US and Canada develop geothermal energy into an industry. In Europe discussions about partnerships are still ongoing, writes Tatiana Mindekova from the global energy think tank ‘Ember’ in a guest article for Euronews.
Europe News
Germany warns EU electricity tax plan threatens national sovereignty
Germany accuses the European Commission of using an electricity market law to sidestep EU tax rules and national sovereignty. The dispute could affect the pace of the bloc’s electrification drive and efforts to reduce its reliance on imported fossil fuels.
Economy
Inflation in Spain rises to 3.6% in July, worst rate in over two years
Spain has logged five months in a row of annual inflation above 3%, driven by costlier electricity and fuel as the partial closure of the Strait of Hormuz persists. In July, power prices top €100 per MWh, the highest year-on-year figure since 2022.
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.
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.
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
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.
