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EU Boosts Transition with REPowerEU Deal

European Council and Parliament negotiators have reached a provisional agreement on the REPowerEU proposal, which aims to reduce dependence on Russian fossil fuel imports by accelerating the transition to renewable energy. This means that member states will now be able to add a REPowerEU chapter to their national recovery and resilience plans (RRPs) under NextGenerationEU so that they can finance the investments and reforms needed to achieve REPowerEU objectives. Measures included under REPowerEU include boosting the energy efficiency of buildings and critical infrastructure, increasing the development and deployment of renewable energy, and supporting zero-emission transport and its infrastructure. The agreed text will now be subject to approval by the Council and Parliament before undergoing the formal adoption procedure. Zbyněk Stanjura, Minister for Finance of Czechia, said: “I am very pleased that the Czech Presidency is now delivering on one of our key promises: ending the EU’s dependence on Russia’s fossil fuels and paving the way for a radical overhaul of the Union’s energy sector. REPowerEU is going to enable us to finance the necessary investments and reforms.” 

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