Impact of the energy crisis on the European economy

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Opinia Sekcji: Impact of the energy crisis on the European economy

Practical information

Composition of the study group

Administrator: Aleksandra SARMAN-GRILC, Assistant: Baiba SPUNDE

Foreseen for the TEN section meeting:  16 May 2023

Foreseen for the EESC plenary session:  14-15 June 2023


The energy crisis has a knock-on effect on the economy, drives up prices for businesses and reduces the amount of money that consumers have to spend. The gas prices push up energy prices, which leads to extremely high inflation. For many the situation is financially unsustainable and has even more drastic consequences than the COVID-19 pandemic.

The EU and its Member States are adopting measures to help households and businesses face the energy crisis. There are possibilities for savings in terms of energy efficiency, renewables and electrification. This has also been outlined by REPowerEU.

The aim of the opinion is to analyse how the energy crisis contributes to the green transition and what kind of sustainable solutions industry will find during the crisis that will persist in the longer term.