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Industry needs to be able to sidestep this,” EU executive vice president Stéphane Séjourné, who is directly responsible for the EU’s industrial strategy, told reporters on Wednesday (26 February).</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">The goal is to cut €45bn from gas import bills this year, €130bn by 2030, and €240bn by 2050, primarily by boosting the adoption of renewables.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">This will help 47 million EU citizens struggling to pay their monthly bills and support energy-intensive industries, which currently pay two to three times more for energy than competitors in the US and China.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">There is also a geopolitical reason to reduce fossil fuel reliance: “Since the start of the war, we have spent on Russian fossil fuels the equivalent of 2,400 F-35 fighter jets,”</span><a href=\"https://euobserver.com/eu-and-the-world/arec2ca46d\" class=\"rte-link\"><span style=\"white-space: pre-wrap;\"> </span><u><span class=\"rte-underline\" style=\"white-space: pre-wrap;\">said energy commissioner Dan Jørgensen</span></u></a><span style=\"white-space: pre-wrap;\">. “This can obviously not stand.”</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">To speed up the European energy transition, the commission is proposing to relax national state aid rules to get more money flowing into wind, solar, and other clean energy projects, including gas and hydrogen.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Other measures include the reduction of energy taxes to EU minimums: member states would be encouraged to lower electricity taxes, with value-added tax (VAT) capped at five percent.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Finally the EU will speed up approval times for green kit from years — or even decades — to six months for simple projects and two years for bigger ones like grids.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">The plan sidesteps the question of which sectors should take priority, but the commission does hint at a direction, with strategies in the works for automotives, chemicals and steel. </span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Séjourné also said a plan for an EU-based battery supply chain will be announced in March. </span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">“It is unacceptable that we export black mass for batteries, only to buy the finished product back at a much higher price later,” he said.</span></p><h3 class=\"rte-h3\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Buy European</span></h3><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">The EU also seeks to create a bigger market for European-made cleantech by changing its public procurement legislation, which is up for review next year.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">“We must totally rethink public procurement — moving away from a solely cost-based approach to one that prioritises sustainability and EU preference,” said Séjourné.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">He also stated that the EU would “bolster” the uptake of long-term energy contracts, mostly by helping governments develop long-term agreements that guarantee a fixed price (range) for generators.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">To stabilise prices, Jørgensen added that the commission “will look at” how to decouple retail power prices from high gas costs, though the current plan offers no further details on this.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Speaking to procurement, Irene Domínguez Pérez, policy manager at energy NGO Bellona Europa, said: “Small cracks can sink big ships. It is not enough that the revision of the procurement directives will ‘allow’ for sustainability and resilience criteria; these criteria must be mandatory.”</span></p><h3 class=\"rte-h3\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Safer than Trump bet</span></h3><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">The EU used Wednesday’s proposal to position itself as the safer bet for green investment compared to the US under president Trump.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">“We’re showing that we’re a safe continent for investment with clear rules,” said Séjourné. “We don’t have a chainsaw, but we have competent people leading the charge,\" in an apparent reference to</span><a href=\"https://www.bbc.com/news/articles/cly25yny3ego\" class=\"rte-link\"><span style=\"white-space: pre-wrap;\"> </span><u><span class=\"rte-underline\" style=\"white-space: pre-wrap;\">Elon Musk wielding a chainsaw</span></u></a><span style=\"white-space: pre-wrap;\"> earlier this week.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">While the plan may be rules-based, some of the financing remains unclear. The €100bn Industrial Decarbonisation Bank is not a lump sum but a mix of guarantees, reshuffled funds, and financial manoeuvring.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">A big slice comes from the Innovation Fund, which is expected to raise around €40bn by 2030</span><a href=\"https://carbonmarketwatch.org/eu-ets-revenue-simulator/\" class=\"rte-link\"><span style=\"white-space: pre-wrap;\"> </span><u><span class=\"rte-underline\" style=\"white-space: pre-wrap;\">from fluctuating</span></u></a><span style=\"white-space: pre-wrap;\"> ETS revenues—money that depends on carbon prices staying high but which, under the new plan, should bring in “additional funds.”</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Another source of funding is InvestEU. Often framed as a €372bn fund, it is backed by only €26.2bn in direct EU funds, with the rest relying on private investors.</span></p><p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Tweaks to InvestEU rules are meant to stretch the pot by another €50bn, but that too depends on private capital and carbon revenues actually materialising.</span></p>","abstract":"“We’re showing that we’re a safe continent with clear rules for investment ,” said EU executive vice president Stéphane Séjourné. “We don’t have a chainsaw, but we have competent people leading the charge.”\n\n ","headline":"EU to 'mobilise' €100bn to boost clean industries and tackle energy costs","location":"Amsterdam","publishDate":1740589589318,"membership":1,"status":2,"section":[{"type":"section","id":"50739332cc","title":"Green Economy","hidden":false}],"related":[{"id":"arba110868","headline":"Lithium mine protesters in EU capital voice empathy for Serb students","section":[{"type":"section","id":"5002452f20","title":"EU & the World","hidden":false},{"type":"section","id":"50739332cc","title":"Green Economy","hidden":false}]},{"id":"ard595388d","headline":"A first look at the EU’s upcoming legislative agenda","section":[{"type":"section","id":"506324822d","title":"EU Political","hidden":false}]}],"articleType":[],"headerImageCaption":"Stéphane Séjourné: 'All our industrial sites face the same problem — energy costs are too high, and the power market is too volatile'","img":{"id":"fi760fae28","src":"https://files-production-saulx-eu-observer-production-en-ci-hyp-xx0.based.dev/fi760fae28/278aab3e-1546-4481-9400-8e5851d769ba-1f173bdf-845b-4f5d-b01b-85e9d72f8fe6-2d9d0269-4cfb-4ef7-9281-736ebf411573.png","credit":{"source":"EU Commission","sourceUrl":"C:/Users/weste/Downloads/sejourne.jpg"}},"author":{"id":"eud6dc869c","firstName":"Wester van","lastName":"Gaal","bio":"<p class=\"rte-p\" dir=\"ltr\"><span style=\"white-space: pre-wrap;\">Wester is a journalist from the Netherlands with a focus on the green economy. 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856V855.998ZM832.564 855.998C832.544 878.081 814.647 895.978 792.566 895.998H496.564V527.998H832.564V855.998ZM896.564 439.998C896.544 462.081 878.647 479.978 856.566 479.998H496.564V303.998H856.564C878.647 304.018 896.544 321.915 896.564 343.996V343.998V439.998Z" fill="currentColor"></path></svg></div></button></div></div><div style="padding:12px 0px;display:flex;flex-direction:column;gap:0;width:100%;align-items:start;justify-content:space-between;margin:32px auto;border-top:1px solid rgba(0, 0, 0, 0.12);border-bottom:1px solid rgba(0, 0, 0, 0.12)" class="_1qi3iy6"><div style="display:flex;flex-direction:row;gap:12px;flex-wrap:wrap;width:100%;align-items:start;justify-content:start;margin-bottom:-4px" class="_18i0fl6"><a href="/section/50739332cc"><div class="j"><div class="d0 d1 d8 d9 cn c5 co cp cq _1a2s23i" style="font-family:GeistRegular;color:var(--orange);text-decoration:underline">Green Economy</div><div class="cu"></div></div></a></div><span class="d0 d1 d8" style="font-family:GeistRegular;color:var(--grey);text-decoration:none;margin-top:16px"><span class="dx fz"><a href="/bio/eud6dc869c"><span class="z3410u">by Wester van Gaal</span></a></span><span class="dx il im">, Amsterdam, </span><div style="margin-top:8px"></div></span></div></div></div></div></div><div class="n m d e bryade" style="max-width:620px;margin-top:32px;margin-bottom:76px"><div class="cj d8 dl _150jpfw v3ktue _8mu7lq _1p9mi6m _1v5npaz _1h8xwyr yz64aj _18qfyyg tq69qt shy7gc _18qgrsu _143c5sd _17sqer0 mxxezy _87zhsz _1ykpvl6" style="font-size:18px;line-height:30px;position:relative"><p class="rte-p" dir="ltr"><span style="white-space: pre-wrap;">The EU Commission laid out its plan to ‘mobilise’ €100bn to boost clean industries and lower energy prices, particularly for green electricity.</span></p><p class="rte-p" dir="ltr"><span style="white-space: pre-wrap;">“Almost all our industrial sites face the same problem — energy costs are too high, and the power market is too volatile. Industry needs to be able to sidestep this,” EU executive vice president Stéphane Séjourné, who ...</div><div style="padding:42px 16px;display:flex;flex-direction:column;gap:16px;width:100%;align-items:center;justify-content:center;border-top:1px solid rgba(0, 0, 0, 0.12);border-bottom:1px solid rgba(0, 0, 0, 0.12);margin-top:24px;margin-bottom:24px"><h4 class="dc dd ct de _1piy4mz" style="color:var(--black)">Get EU news that matters</h4><p class="cj cx cy cw" style="font-weight:400;color:var(--black);text-align:center">Back our independent journalism by becoming a supporting member</p><button class="cu s k c4 hb j hc ds j55797 _1316jf6" style="color:var(--white);background-color:var(--orange);padding:0px 18px;height:30px;border-radius:20px;user-select:none;-ms-user-select:none;-moz-user-select:none;-webkit-user-select:none;margin-bottom:8px;cursor:pointer"><div style="display:flex;flex-direction:row;gap:8px;width:100%;align-items:center;justify-content:center"><span class="cz d8 dj dk _1j3zqid">Register</span></div></button><span class="d0 d1 d8 _1jx20bd" style="font-family:GeistRegular;color:var(--grey);text-decoration:none">Already a member? <a>Login here</a></span></div></div><div class="n m d e _1h3f3w7" style="max-width:620px"><div style="display:flex;flex-direction:row;gap:12px;width:100%;align-items:center;justify-content:start;border-bottom:1px solid rgba(0, 0, 0, 0.12);padding-bottom:24px;margin-bottom:24px"><button class="cu s k c4 hb j hc ds c0vzui _5yrser" style="border:var(--border);color:var(--black);height:32px;width:32px;border-radius:50%;user-select:none;-ms-user-select:none;-moz-user-select:none;-webkit-user-select:none;padding:0;position:relative;cursor:pointer"><div style="display:flex;flex-direction:row;gap:8px;width:100%;align-items:center;justify-content:center"><svg width="30" height="30" viewBox="0 0 30 30" fill="none"><path d="M16.1971 9V11.8696C10.0748 12.7623 8.85654 17.1304 9.01273 19.2029C12.2613 16.9072 15.1559 16.8647 16.1971 17.1304V20L22.4444 14.7391L16.1971 9Z" stroke="currentColor"></path></svg></div></button></div><div style="display:flex;flex-direction:row;gap:6px;flex-wrap:wrap;width:100%;align-items:center;justify-content:start" class="_1iogabq"><a href="/section/50739332cc"><span class="dm dc df dn do dp cy ct dq dr ds _1g6rp5t" style="white-space:nowrap">Green Economy</span></a></div><div><h4 class="dc dd ct de _1piy4mz" style="color:var(--black);margin-top:24px;margin-bottom:12px">Author Bio</h4><div class="cj d8 dl _150jpfw v3ktue _8mu7lq _1p9mi6m _1v5npaz _1h8xwyr yz64aj _18qfyyg tq69qt shy7gc _18qgrsu _143c5sd _17sqer0 mxxezy" style="font-size:16px;line-height:24px"><p class="rte-p" dir="ltr"><span style="white-space: pre-wrap;">Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.</span></p></div></div><div class="do"><h4 class="dc dd ct de _1piy4mz" style="color:var(--black);margin-bottom:16px;margin-top:45px">Related articles</h4><div style="display:flex;flex-direction:column;gap:12px;flex-wrap:wrap;width:100%;align-items:start;justify-content:start;grid-template-columns:1fr" class="twgy2l"><a href="/eu-and-the-world/arba110868" style="width:100%"><div class="cj m bl ds dy dh cy d6 dz e0 e1 _2oun9l">Lithium mine protesters in EU capital voice empathy for Serb students</div></a><a href="/eu-political/ard595388d" style="width:100%"><div class="cj m bl ds dy dh cy d6 dz e0 e1 _2oun9l">A first look at the EU’s upcoming legislative agenda</div></a></div></div></div></div><div style="display:flex;flex-direction:column;gap:16px;width:100%;align-items:start;justify-content:space-between;max-width:300px;margin-left:32px;padding-top:8px" class="_1g3nzm6"><figcaption class="h0 h1 _16firde">Stéphane Séjourné: 'All our industrial sites face the same problem — energy costs are too high, and the power market is too volatile' <a target="_blank" href="C:/Users/weste/Downloads/sejourne.jpg">(Photo: EU Commission)</a></figcaption><h4 class="dc dd ct de _1piy4mz" style="color:var(--black)">Tags</h4><div style="display:flex;flex-direction:row;gap:8px;flex-wrap:wrap;width:100%;align-items:center;justify-content:start;margin-bottom:24px" class="_1ak3dcx"><a href="/section/50739332cc"><span class="dm dc df dn do dp cy ct dq dr ds _1g6rp5t" style="white-space:nowrap">Green Economy</span></a></div><div style="display:flex;flex-direction:row;gap:12px;flex-wrap:wrap;width:100%;align-items:start;justify-content:start"><h4 class="dc dd ct de _1piy4mz" style="color:var(--black)">Author Bio</h4><div class="cj d8 dl _150jpfw v3ktue _8mu7lq _1p9mi6m _1v5npaz _1h8xwyr yz64aj _18qfyyg tq69qt shy7gc _18qgrsu _143c5sd _17sqer0 mxxezy" style="font-size:16px;line-height:24px"><p class="rte-p" dir="ltr"><span style="white-space: pre-wrap;">Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.</span></p></div></div><div class="ch c6 ci c4 mxeqxb"><span class="d0 d1 d8" style="font-family:GeistRegular;color:var(--grey);text-decoration:none;position:absolute;left:16px;top:16px;z-index:0">Ad</span><div id="dfp-half-page"></div></div><h4 class="dc dd ct de _1piy4mz" style="color:var(--black);margin-bottom:16px;margin-top:45px">Related articles</h4><div style="display:flex;flex-direction:column;gap:12px;width:100%;align-items:start;justify-content:space-between;max-width:300px"><a href="/eu-and-the-world/arba110868"><div class="cj m bl ds dy dh cy d6 dz e0 e1 _2oun9l">Lithium mine protesters in EU capital voice empathy for Serb students</div></a><a href="/eu-political/ard595388d"><div class="cj m bl ds dy dh cy d6 dz e0 e1 _2oun9l">A first look at the EU’s upcoming legislative agenda</div></a></div></div></div></div><div class="cc cd c6 m ce cf cg 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