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European Commission - Speech [Check Against Delivery] Speech by Commissioner Jørgensen in the European Parliament debate on Energy security, independence and supply in the geopolitical context Brussels, 25 March 2026 Honourable Members, dear friends, In 1956, there was a crisis over the Suez Canal. Fossil fuel markets became unstable. And in Europe, energy prices went up. In the 1970s, there was instability in the Mi...
European Commission - Speech [Check Against Delivery] Speech by Commissioner Jørgensen in the European Parliament debate on Energy security, independence and supply in the geopolitical context Brussels, 25 March 2026 Honourable Members, dear friends, In 1956, there was a crisis over the Suez Canal. Fossil fuel markets became unstable. And in Europe, energy prices went up. In the 1970s, there was instability in the Middle East. Fossil fuel markets became unstable. And in Europe, energy prices went up. In 2022, Russia invaded Ukraine, and weaponised supplies of gas and oil. Markets became unstable. And in Europe, energy prices went up. Now, in 2026, there is another geopolitical crisis. There is more instability in fossil fuel markets. And once again, in Europe, energy prices have gone up. Dear friends, when will we learn? And if we do not learn, who else can we blame? If we are condemned to repeat our past mistakes, decade after decade, crisis after crisis? Once again, our citizens and businesses have been exposed to the volatility of fossil markets. The situation in the Middle East and the blockage in the Strait of Hormuz is having a serious impact on global energy security and commodity prices. Two weeks ago, we witnessed the largest ever strategic oil stock release coordinated by the International Energy Agency. In the Commission, we are in close contact with Member States on regular basis, to assess the impacts. For the time being, the physical security of energy supply in the EU is assured. However, we must take targeted and temporary measures to address the spikes on imported fossil fuels, so that we can protect our citizens, especially the most vulnerable groups in our society and safeguard our economy and jobs. And this is exactly what the Commission has set out to do. We will act on all four components that determine electricity prices. Firstly, on the cost of energy, which accounts for over half of the electricity price, on average. We will make State aid rules more flexible, so that member states can deliver immediate price relief to the most affected energy intensive industries. We also agreed to work closely with the Member States that develop national schemes, to further mitigate the impact of fuel costs on electricity generation We will do so on a case-by-case basis, while preserving our long term investment signals for clean energy. The second component is grid charges, which account for around 18% of the price. Here, we will prepare a legal proposal to allow Member States to improve the productivity of grid infrastructure. The third component of the prices are taxes and levies. We need to lower tax rates on electricity. It is up to Member States to make sure that electricity is taxed less than fossil fuels. We are exploring what can be done, including through legislation. The fourth and final component is carbon pricing. The Emissions Trading System is working. It has helped us to cut emissions and reduce our gas demand by over 100 billion cubic metres since 2005 – reducing our vulnerability and driving major investments in clean, homegrown, European energy. However, we can modernise the system, make it more flexible, and provide extra support. For example, we have proposed a €30 billion ETS Investment Booster, creating more financial resources for clean technology and decarbonisation. On top of this, we will continue to work with Member States on immediate actions they can put in place, here and now, to make a positive impact on our citizens' energy bills. Many of these are tools that we have called on before, during the COVID pandemic and the energy crisis of 2022, and that we might need again. First of all, we strongly encourage Member States to support energy poor and vulnerable households. By providing emergency income support to those who need it. By acting to reduce excise duties on electricity. And by implementing further safeguards to prevent consumer disconnections. We also call on Member States to fully harness our Citizens' Energy Package possibilities: By supporting consumers to switch to cheaper energy contracts. By enabling consumers to use their electricity with more flexibility. And by empowering citizens to produce and share their own clean energy. Standing on the foundations of these actions, let me say to every person feeling the impact of high energy prices: the European Union is doing everything it can to shield you. But we are also doing everything we can to prevent this from happening again. We must double down on our path to energy independence. We must continue building a true Energy Union: by rolling out more renewables, reinforcing our grids, and creating a genuine single market for electricity. For this, we need to reach a strong agreement on our grids package – and we must do so as fast as possible. I count on the support of this house to have a swift and ambitious agreement, so that we can build the infrastructure and interconnections that we desperately need, without delay. We must also continue to advance energy efficiency, boost electrification, and diversify our supplies. In the coming months, the Commission will present a revised framework for energy security, alongside an electrification action plan and a heating and cooling strategy. And we must never go back to fossil dependency. RePowerEU remains our strategy. The phase-out of Russian fuels will go ahead. Honourable Members, If we do not learn from our past mistakes, then we are doomed to repeat them over history. But if we do learn from our mistakes, we can build a new future. A future of clean, affordable, homegrown energy. A future of economic security and social stability. A future of true European independence. When this Parliament meets in 50 years' time, will they speak of 2026 as just another year in a chain of crises? Or will they speak of this as a turning point? A moment when Europe finally took control, of its own fate and its own future? That is the choice we have to make. For the sake of Europe, and all of our people, let us choose wisely. SPEECH/26/726 Press contacts: Anna-Kaisa ITKONEN (+32 2 29 57501) Cristiana MARCHITELLI (+32 2 29 89407) General public inquiries: Europe Direct by phone 00 800 67 89 10 11 or by email
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