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How can Europe prevent the next energy crisis?

Publishing date
06 February 2023
Authors
Simone Tagliapietra
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As a result of high gas storage volumes, achieved through significant demand reduction, the EU is in a comfortable position this winter. However, this should not be taken for granted. Ensuring competitive gas prices continue to be a challenge for Europe and until demand and supply are structurally re-adjusted, international gas market conditions will remain tight.



The EU’s attention must swiftly turn to planning for winter 2023/24. Gas storages need to be 90% full by 1 October 2023. Achieving this target depends on how demand reduction and LNG, the two pillars of Europe’s current energy security architecture, are handled. Positive signs have emerged in the last year showing that both industry and households can reduce their gas demand. However, gas demand reduction should be built into policy in the future.



Regarding LNG, the rapid deployment of regasification units must continue, as this alleviates concerns over import infrastructure capacity. As the EU keeps competing for cargoes internationally and remains vulnerable to global dynamics, utilising the EU Energy Platform might benefit Europe.



EU policymaking should drive a shift away from gas. This involves rapid deployment of renewables and accompanying grid infrastructure, energy efficiency measures, support for households to switch toward cleaner heating sources and collaboration with industry stakeholders to accelerate the adoption of new low-carbon production methods. 

The Why Axis is a weekly newsletter distributed by Bruegel, bringing you the latest research on European economic policy. 

About the authors

  • Simone Tagliapietra

    Simone Tagliapietra is a Senior fellow at Bruegel.

    He is also a Part-time professor at the Florence School of Transnational Governance (STG) of the European University Institute and an Adjunct professor at the School of Advanced International Studies (SAIS) Europe of The Johns Hopkins University.

    His research focuses on the EU climate and energy policy, and on its industrial and social dimensions. With a record of numerous policy and scientific publications, also in leading journals such as Nature and Science, he is the author of Global Energy Fundamentals (Cambridge University Press, 2020) and co-author of The Macroeconomics of Decarbonisation (Cambridge University Press, 2024).

    On the basis of his policy and scientific production, Dr. Tagliapietra regularly supports EU and national institutions in the development of their public policies in the field of climate and energy, also through regular interaction with public decision-makers in EU and national institutions, as well as through regular parliamentary testimonies in the European Parliament and various national parliamentary assemblies inside and outside Europe, such as the French Senate, the UK House of Lords and the US Senate. His columns and policy work are widely published and cited in leading international media.

    Dr. Tagliapietra also is a Member of the Board of Directors of the Clean Air Task Force (CATF) and Senior associate of the Payne Institute at the Colorado School of Mines in Golden. He holds a PhD in International Political Economy from the Catholic University of Milan, where he previously graduated under the supervision of Professor Alberto Quadrio Curzio and where he also served as an Assistant professor (tenure-track) until 2024. Born in the Dolomites in 1988, he speaks Italian, English and French.

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WhyAxis newsletter
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English

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