EU Energy Commissioner Kadri Simson, on October 22, told the European Parliament that member states had to end subsidies on fossil fuel, which had undermined the EU’s efforts to reach net-zero emission by 2050. Simon said that fossil fuel subsidies are a significant impediment to the transition toward cost-efficient energy.
EU countries’ bills on energy subsidies reached €159 billion ($188 billion) in 2018, of which almost a third went on fossil fuels. Fossil fuel subsidies among the 27 member states rose by 6% from 2015-2018. The subsidies include grants, loans, tax incentives, or price support to the coal, oil, and gas sectors.
The European Commission will work on revising EU tax rules in 2021 that will remove exemptions for some fuels. The Commission also warned that spending on clean energy research in Europe had been slowing over the past several years.
The EU’s climate goal does not envisage a quick phase-out of fossil fuels. Some countries will still use gas to replace more polluting coal before transitioning fully to renewables. EU lawmaker Bart Groothuis said fossil fuels would still be needed in the initial phase of the transition.
Tags: AlwaysFree,Bio/Renewables,Coal,Crude Oil,English,Europe,Gas
Published on October 23, 2020 4:00 PM (GMT+8)Last Updated on October 23, 2020 4:00 PM (GMT+8)
