BAKU, Azerbaijan, January 20. One of the priorities of the EU is to build an interconnected and affordable energy market, a true energy union, European Commission President Ursula von der Leyen said in her special address to the World Economic Forum in Davos, Trend reports.
“Energy is a choke point for both companies and households. And just look at the dispersion of prices across European electricity hubs. Europe needs an energy blueprint that pulls together all the parts. This is our affordable energy action plan. We are, for example, massively investing in our energy security and independence with interconnectors and grids. This is for homegrown energies that we are trying to promote as much as possible, the nuclear and the renewables, to bring down prices and cut dependencies, to put an end to price volatility, manipulation, and supply shocks. But now we have to speed up this transition, because homegrown, reliable, resilient, and cheap energy will drive our economic growth and deliver for Europeans and secure our independence,” she said.
Ursula von der Leyen pointed out that whether on trade or business, capital, or energy, Europe needs an urgency mindset.
“Our starting point is good. We are home to global champions in fields ranging from wind power to next-generation batteries, from aerospace. Through the industrial machines that are essential to build the chips and advance weapons, our companies are taking up AI at the same pace as their U.S. peers. Europe is in the race for the key technologies of tomorrow. But as global competition gets ruthless, we must show real ambition, especially in those sectors vital for our independence,” the European Commission president added.