The European Commission on Wednesday rolled out a package called ‘AccelerateEU’ to help member states cope with immediate energy strains and prepare for further disruptions linked to the war in the Middle East. Commission officials said Europe’s energy system has so far been resilient to global shocks, but warned that price spikes and fuel shortages remain a real risk across the bloc.
EU Energy Commissioner Dan Jorgensen described the crisis as ‘a wake-up call and a turning point,’ urging an accelerated shift away from fossil fuels. He added that even a diplomatic resolution between Iran and the United States would not remove the effects already set in motion and that consequences could be felt for years.
The toolbox proposed by the Commission includes several measures:
– Cutting taxes on electricity to promote electrification measures such as heat pumps and reduce dependence on oil and gas.
– Speeding up deployment of domestic clean energy to replace oil, gas and transport fuels derived from fossil sources.
– Coordinating the timing of gas purchases to avoid simultaneous price spikes and considering mechanisms to enable timely releases from oil stocks.
– A fertiliser action plan to diversify supply chains and strengthen domestic production capacity.
– Temporarily relaxing state aid rules to let governments subsidize up to 50% of price increases for oil and fertilisers that have occurred since the war began.
An immediate priority is jet fuel availability ahead of the summer travel season. The EU imports roughly 40% of its jet fuel, and about half of those supplies transit the Strait of Hormuz. A Commission guidance note to national capitals urges maximising the operational capacity of EU refineries to meet current demand, with particular attention to jet fuel.
Planned actions include mapping transport fuel stocks and flows, coordinating alternative sourcing, improving intra-EU distribution, exploring increased imports from the United States, and potentially requiring member states to hold minimum jet fuel reserves. Commissioner for Transport and Tourism Apostolos Tzitzikostas said there were no signs yet of widespread flight cancellations, but stressed the need to be prepared.
The Commission noted that diversified gas and oil suppliers, strategic reserves and expanded LNG import capacity have so far helped maintain security of supply. Still, Brussels estimates an additional €24 billion has been spent on energy imports since the Iran war began because of higher prices — ‘without receiving a single extra molecule of energy,’ the Commission said, underscoring the financial impact of the crisis.