The European Union facing the abyss: legislative review in the face of the energy crisis, 2022

Abstract

The European Union has suffered an energy crisis since June 2021 due to cyclical and structural factors, such as the climate crisis, the war in Ukraine and dependence on fossil fuels. EU leaders agreed on a new energy strategy to tackle the crisis and lay the foundations for a sustainable and decarbonised economy. The article aims to analyse energy prices and supply and the measures Europe took in 2022 to tackle the crisis. This European strategy includes promoting energy efficiency, diversifying energy sources, and reducing dependence on fossil fuels. EU legislative measures have also been proposed, such as a safety cap for gas prices and a temporary dynamic price corridor. However, some actions take time to implement quickly and effectively, and there may be costs and impacts on specific economic sectors. It is also difficult to predict the long-term effect of structural changes.