rising to €123bn in 2022. These increases are due­ to high energy costs during the post-covid recovery and the EU’s rapid and therefore costly diversification away from Russian raw materials, particularly gas Globally, it costs around $7trn per year to subsidise the current share of fossil fuels in the economy. According to estimates by the In

First, the energy transition can bring long-term, tangible economic benefits to the EU, its member states, and their citizens. This is the case for national budgets, the competitiveness of businesses, and the cost of living Put simply, fossil fuels are expensive. And the EU’s bill has surged in the years since the covid-19 pandemic and Russia’s

Deal and provoke a shift towards protectionist energy policies. However, the nature of the public opposition to some areas of climate action suggests the EU does not need to back down on its plans for the energy transition. Policymakers should instead view the transition as an opportunity to respond to people’s economic concerns and increase the