The European Union has reached an agreement with the European Parliament and the Council to cut final energy consumption across the EU by 11.7% by 2030. Under the new energy efficiency deal, the annual energy savings obligation will nearly double and EU countries will be required to achieve new savings each year of 1.49% of final energy consumption on average, from 2024 to 2030, up from the current level of 0.8%. They will gradually have to reach 1.9% by the end of 2030.
The agreement will be legally binding. It however fell short of the 13% target the European Commission said the EU would need to help stop member states’ dependency on Russian fossil fuels. The EU Parliament also wanted a higher goal (14%), while some EU countries pushed for a lower target (9%).
The revision of the Energy Efficiency Directive is one of the ‘Fit for 55' proposals presented by the Commission in July 2021 to make the EU's climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas (GHG) emissions by at least 55% by 2030, compared to 1990 levels, and reach carbon neutrality by 2050.
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