US EditionEU Chief, Macron Say Mideast War Exposes Europe Energy Vulnerability
Europe's reliance on fossil fuels rose as nuclear power dropped from 33% to 15% of electricity, exposing energy supply risks amid geopolitical tensions, EU leaders said.
- At a summit outside Paris, the European Commission President warned Europe’s turn away from nuclear power exposed fossil-fuel vulnerability amid the current Middle East war.
- Public fears after 2011's Fukushima prompted a long-term retreat from civilian reactors, and Von der Leyen highlighted nuclear’s decline from one-third of Europe’s electricity in 1990 to close to 15 percent today.
- The EU will create a 200-million-euro guarantee to back SMR investment, aiming for early 2030s operation with units offering up to 300 megawatts capacity.
- Protests and past deals with Russia underline the geopolitical stakes for supply chains, as France's EDF signed a multi-million deal with Rosatom subsidiary Tenex in 2018 and around 15 Greenpeace activists disrupted the summit.
- Quoting energy sovereignty, Macron said, 'We have home-grown low-carbon energy sources: nuclear and renewables. And together, they can become the joint guarantors of independence, security of supply, and competitiveness-- if we get it right.
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14 Articles
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EU Economic Commissioner Dombrovskis fears that a long war in the Middle East will have a significant impact on the European economy. Higher energy prices would then expand to general inflation, he said at a meeting of EU finance ministers in Brussels. He literally warned against a "stagflation shock".
New Strait Times
EU warns long Mideast war risks 'stagflationary shock' to world economy
BRUSSELS: A long war in the Middle East could unleash a “substantial stagflationary shock on the global and European economy“, top EU official Valdis Dombrovskis said Monday.
European Commissioner Valdis Dombrovskis warns of possible repercussions if "the disruptions of maritime traffic" and "attacks against the energy infrastructure of the Gulf States" persist.
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