EU’s Jorgensen Wants Cheaper Energy, End to Russian Fuel Imports

(Bloomberg) -- Dan Jorgensen, designate as the European Union’s next energy chief, pledged measures to lower prices and end imports of Russian fossil fuels as the bloc pursues its transition to a sustainable economy.

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The 27-nation EU is preparing for a second term of the European Commission led by Ursula von der Leyen, with Parliament holding hearings with nominees for the commissioner roles. The EU should deploy more renewables and boost efficiency to lower costs, steps that would also ensure energy security and a cleaner future, Jorgensen told lawmakers.

“If I am approved as a commissioner, I will make it a top priority to bring down the prices of energy for our industry, for our people,” the former Danish climate and energy minister told the assembly in Brussels on Tuesday.

The commissioner-designate said that within the first 100 days in office the commission will present a Clean Industrial Deal to ensure that the region’s manufacturers stay competitive during the transition. The initiative will include a plan for affordable energy and be followed by separate plans for clean investment and electrification.

The EU needs to use all available tools, including strengthening its grids, boosting digitalization, addressing supply chain issues, cutting red tape, facilitating permitting and bolstering new technologies for energy storage and carbon capture, he said.

Jorgensen sought to allay concerns that he would import his anti-nuclear credentials into EU policymaking. He said it was part of the process of decarbonizing the energy system.

The 100 days will also see a roadmap for ending Russian energy imports, Jorgensen said. The EU, which used to rely on Gazprom as its main source of gas supplies, saw imports of Russian pipeline gas drop sharply amid the war that the Kremlin launched on Ukraine.

Still, Moscow’s share of the EU’s LNG imports climbed to 20% in the first half of the year, compared with 14% a year earlier, according to a report last month from the Agency for the Cooperation of Energy Regulators.

The hearings at the Parliament are due to end on Nov. 12 and the new commission is expected to take office next month.

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