Powering Europe’s Future: Geothermal Energy and Bold EU Energy Strategies

At the Energy Council meeting, chaired by Hungarian Energy Minister Csaba Lantos and European Commissioner Dani Jörgensen, leaders tackled pressing energy challenges, emphasizing geothermal energy and outlining bold strategies for Europe’s energy future.

Geothermal Energy: Unlocking Untapped Potential

Hungary prioritized geothermal energy as a key renewable source, highlighting its reliability, affordability, and job-creation potential. Unlike weather-dependent renewables, geothermal energy offers stable electricity and heating solutions. A report by the International Energy Agency revealed Europe’s opportunity to lead in expanding geothermal, which currently supplies less than 1% of global energy. The Council urged the European Commission to draft an EU geothermal strategy to overcome challenges like drilling risks and deployment costs.

Ambitious Energy Policies for Competitiveness and Security

Commissioner Jörgensen outlined the EU’s path to lower energy costs and achieve Green Deal targets. Key initiatives include a Clean Industrial Deal and an Affordable Energy Plan within 100 days and a roadmap to end reliance on Russian energy imports. Jörgensen called for faster renewable adoption, streamlined permitting processes, and reforms to stabilize electricity prices, such as decoupling gas prices at the retail level. Commissioner Jörgensen addressed Europe’s energy affordability crisis, stating, “Our industry’s competitiveness in Europe is under pressure. That is due to many reasons, but one of them is definitely the high energy prices. We pay two or three times more for our energy in Europe than they do in the U.S. and China.”

To tackle these challenges, the Commissioner committed to delivering a Clean Industrial Deal and an Affordable Energy Plan within the first 100 days. These initiatives will address the dual priorities of lowering costs and achieving EU Green Deal targets. Jörgensen also emphasized recent progress in energy security, noting that “our gas storage is at a level now that, combined with the fact that we’ve reduced our consumption of gas and diversified our imports, means that we can face a winter with positive assurance”.

Bridging the Divide: Renewables and Nuclear

Acknowledging diverse energy priorities among member states, Jörgensen emphasized the need to complement renewables with other clean technologies, including nuclear power. He proposed maintaining separate targets for renewables and nuclear to ensure balanced energy policies. The Council reinforced Europe’s commitment to energy security, sustainability, and affordability, with geothermal energy and collaborative innovation driving the transition to a greener, more resilient future.

While advocating for renewables as the cornerstone of EU energy policy, Jörgensen stressed the need for complementary clean technologies like nuclear. He proposed separate targets for renewables and other carbon-neutral options to balance diverse member state priorities. The meeting reaffirmed Europe’s commitment to energy security, decarbonization, and affordability, with geothermal energy and collaborative strategies at the forefront of its sustainable energy future.