Published on 01 July 2026
Overview
Europe is, once again, paying the price of fossil fuel dependence. The war in Iran, similar to Russia’s invitation of Ukraine 4 years ago, is a stark reminder of the vulnerability of Europe’s energy system to geopolitical shocks. As long as the European economy runs on volatile and intermittent fossil fuel imports, European Governments cannot guarantee energy security for their citizens or global competitiveness for its businesses. In the next decade, the European energy framework must unlock investments that will more than double wind installations and enable competitive electrification.