the energy transition can bring

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 all-out invasion of Ukraine. The bloc’s energy import costs reached €604bn in 2022 (rising from a pandemic-distorted low of €163bn in 2021). Between 2015 and 2021, subsidies for fossil fuels in the EU held steady at around €56bn annually (adjusted to 2022 prices) ufabet