The European Commission as part of a ‘toolbox’ to react to recent gas and power price spikes continues to support investments in renewables, energy efficiency and storage, in a move welcomed by the green power sector.

The toolbox aims at protecting vulnerable consumers and reduce the EU’s exposure to future energy price shocks similar to the one seen today.

“Rising global energy prices are a serious concern for the EU. As we emerge from the pandemic and begin our economic recovery, it is important to protect vulnerable consumers and support European companies,” Energy Commissioner Kadri Simson said.