The European Commission announces the "Accelerating Europe" plan to address the energy crisis.

The European Commission announced a package of measures called "Accelerating the EU" on the 22nd, aimed at alleviating the impact of recent energy price spikes on European households and businesses and promoting the EU's move towards "energy independence." The European Commission said in a press release that for the second time in less than five years, Europe has paid a heavy price for its reliance on imported fossil fuels. Since the escalation of the situation in the Middle East, the EU has incurred an additional 24 billion euros in energy import costs due to rising energy prices, without gaining additional energy supply. According to the plan, the European Commission will strengthen coordination with member states to ensure the smooth implementation of measures such as replenishing underground natural gas reserves and releasing emergency oil reserves. The EU will also track traffic fuel production, imports, and inventory levels to quickly identify potential shortages and make fuel allocation measures more targeted. The European Commission proposed that income support and energy subsidy measures could be implemented to protect consumers and related industries from the impact of price spikes. To accelerate the energy transition, the Commission stated that it will propose an electrification action plan before summer this year, and strengthen measures such as the construction of electricity grid systems and promoting investments. European Commission President Ursula von der Leyen stated that the choices made now will determine Europe's ability to address current challenges and future crises, and that a swift transition to domestically produced clean energy is necessary to help Europe achieve energy independence and security, and better resist geopolitical shocks.