European Commission President Ursula von der Leyen delivered her State of the Union address on Wednesday morning 14 September. Dressed in yellow and blue, the colors of Ukraine and the EU, she reiterated her support for Ukraine. She also spoke extensively about the explosion in energy prices due to the war which is weighing on the continent’s economy and proposed solutions.
The President of the European Commission wants to launch a complete and in-depth reform of the electricity market. The current system no longer does justice to consumers who should pay less for renewable energy, she acknowledged.
Ursula Von der Leyen therefore wants to decouple electricity prices from the dominant influence of gas. Capping the revenues of electricity producers based on renewable energies and nuclear would raise 140 billion euros which could be for households and businesses in need, said Ursula von der Leyen.
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Invest in hydrogen
She also announced the creation of a public bank dedicated to hydrogen, capable of investing three billion euros. ” We need to move from the niche market to the mass market for hydrogen. To achieve this, we need to create a market maker for hydrogen. To bridge the investment gap and connect future supply and demand. »
The President of the Commission also promised to train ” strategic reserves “to avoid disruptions in the supply of raw materials” reviews such as rare earths and lithium, which weigh on EU industry.
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This speech on the state of the Union, presented as a “key moment in European democracy”, according to the Parliament, should enable the Commission – which is not elected but has the initiative for European laws – to be accountable for its balance sheet and present its projects. A debate of about two hours with the MEPs is planned after the speech by the President of the Commission.
on the Ukraine part of the speech:
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