Business Europe Advocates for Lower Energy Prices and Recognition of Blue Hydrogen
Key Ideas
  • Business Europe is pushing for additional measures to combat high energy prices in the EU.
  • A new study suggests that rapid expansion of low-carbon energy could make electricity in the EU 40% cheaper.
  • The industry association also supports the recognition of blue hydrogen from natural gas in the energy mix.
  • Scandinavia and the Iberian Peninsula are highlighted as cost-effective locations for renewable energies.
Business Europe, Europe's largest industry association, is advocating for additional measures to address high energy prices in the EU. According to a new study commissioned by Business Europe, even with a successful energy transition, electricity prices in the EU are expected to remain significantly higher than in other major economies. The association believes that a rapid expansion of low-carbon energy in favorable locations could potentially reduce electricity costs by 40%. Business Europe is also pushing for changes in environmental law and the recognition of blue hydrogen from natural gas as part of the energy transition. The study points out that Scandinavia and the Iberian Peninsula are among the most cost-effective locations for renewable energy production. This emphasizes the potential benefits of investing in renewable energy in these regions to drive down overall electricity prices in the EU. Overall, the sentiment of the article towards hydrogen is positive, as it highlights the importance of recognizing blue hydrogen as a valuable component of the energy mix. The focus is on promoting lower energy prices and increasing the competitiveness of the EU's energy sector through strategic measures and investments in low-carbon energy sources.
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