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EU Measures to Reduce Energy Costs

Published March 20, 2026, 08:13
EU Measures to Reduce Energy Costs

The European Council has adopted conclusions on reducing energy costs, focusing on the design of temporary and targeted measures. Cyprus is expected to benefit from measures tailored to its national conditions, which could contribute to reducing electricity prices for households. The conclusions emphasize that the energy transition remains the most effective strategy for achieving Europe's energy autonomy, enhancing resilience and reducing energy prices. Accelerating the development of renewable energy sources and energy storage are considered essential for reducing dependence on fossil fuels. At the same time, the need for short-term targeted solutions to ensure affordable energy prices is recognized, taking into account the specific characteristics of member states and the need to protect energy-intensive industries. The conflict in the Middle East and its impact on energy prices highlight the need for a coordinated response. The European Commission is called upon to present a “toolbox” of targeted temporary measures to address rising fossil fuel prices, as well as to revise the Emissions Trading System (ETS) to reduce carbon price volatility and mitigate its impact on electricity prices.