Flipping the Switch: the EU’s Response to the Energy Crisis

Europe appears to have avoided an energy market meltdown this winter. The European Union was plunged into an energy crisis in 2022 after Russia’s invasion of Ukraine and reduction in gas exports exacerbated price pressures from the post-pandemic recovery in demand.

But Europe is not out of the woods. The region has been fortunate to enjoy a warmer-than-expected winter season, allowing natural gas stores to remain higher than usual. But some analysts fear that a cold snap or an increase in demand for natural gas from China as it emerges from its no-Covid policy could tighten supplies and drive up prices.

This Dods Political Intelligence report examines the EU’s response to the energy crisis, including emergency preparations ahead of the winter and key legislative initiatives such as the REPowerEU plan.

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