“We’re driving energy prices down and competitiveness up. We have already significantly reduced energy prices in Europe by doubling down on renewables. Now, we are going a step further with the Affordable Energy Action Plan as part of our Clean Industrial Deal. With it, we will achieve more predictable prices, stronger connections across Europe, and increased energy offtake. We will systematically remove remaining obstacles so that we can build a true Energy Union”. There is optimism and commitment in the statement that the President of the European Commission, Ursula von der Leyen, made today as she outlined the new Energy Action Plan. The EU “is at a crucial turning point for its competitiveness, decarbonisation and security, with a clear need to act”, the Commission pointed out. “Structurally high energy costs are hurting our citizens and businesses. The challenges are clear, and so is the role of the European Union to address them”. The Commission has therefore presented an action plan today with short-term measures to reduce – these are the stated objectives – energy costs, complete the Energy Union, attract investment “and be better prepared for potential energy crises”. The Commission estimates overall savings of €45 billion in 2025, “that will progressively increase until €130 billion in annual savings by 2030 and €260 billion by 2040”.