High energy prices drive up need for energy savings

    587 843 Almut Bonhage

    Latest research shows that the EU’s economic energy savings potentials are growing as energy prices increase. The European Commission has proposed a 9% energy savings target for 2030 in the Fit for 55 Package, but the economic potential could reach up to 23% in case whole-sale energy prices are double in 2030 compared to the EU’s estimate before Russia invaded Ukraine earlier this year.

    Niels Fuglsang, MEP: ‘The EU Parliament has paid close attention to the economic potentials in the past. These new findings show that we need to work hard with Member States to acknowledge the growing importance of energy savings.’

    Prof. Dr. Wolfgang Eichhammer, Fraunhofer ISI: ‘The assessment of economic potentials is an important tool to support the setting of energy saving targets, which are feasible and maximise benefits for citizens. The new energy price outlook for the EU drives up the potentials significantly.’

    Stefan Scheuer, Director, Stefan Scheuer Consulting: ‘The EU can and must increase its energy saving ambition. It will keep our energy bills in check and accelerate the phase out of Russian oil and gas.’

    Mirella Vitale, Senior Vice President, ROCKWOOL Group: ‘Tapping into the EU’s cost-effective energy savings potential is essential to protect households and businesses from runaway energy bills. But we need to act now. We’ve been having the same debate for 10 years – we cannot afford to delay actions to the next decade.’

    Christian Noll, Managing Director, DENEFF: ‘It will cost many billion Euro to not increase political efforts on energy efficiency! In the face of an energy price and security crisis, we expect the German government and other European leaders to push for more ambition in the EU council negotiations.’

    Wolfgang EICHHAMMER, Stefan SCHEUER: Assessing the impact of high energy prices on the economic potentials for energy savings in the EU, April 2021.

    With the support of

    • Deutsche Unternehmensinitiative Energieeffizienz e.V. (DENEFF), Berlin, and
    • ROCKWOOL Group

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