EU launches €210bn plan to replace Russian gas

Frans Timmermans, European commissioner for the Green Deal, said the EU was also preparing for a major Russian gas supply shock but that it would be ready

Ursula von der Leyen said the plan had three strands: To reduce energy demand, to diversify fossil fuel supplies, and to fast track the clean energy transition. Picture: Getty

The European Commission has launched a major new plan to replace the supply of Russian gas, including increasing renewable energy and energy efficiency targets, a major solar rooftop scheme, and recommendations around fast-tracking planning permission for renewables.

The package will require €210 billion of additional investment over the next five years, which the commission said had to be met through “private and public” sector investments. The commission has reworked terms for over €200 billion in ...