EWEA Blog: By throwing away 1.1 Billion Euros per day the EU is Destroying Competitiveness

As EU Heads of State and Government meet to discuss Europe’s energy policy on 22 May, they should remember that the EU paid 406 billion Euros for oil and gas imports in 2012 (1.1 billion Euros per day), 3.2% of its GDP.

“The massively increasing prices for fossil fuels over the last ten years – crude oil by 14% a year, gas 10% and coal 8% – are the real danger for Europe’s competitiveness”, said Thomas Becker, Chief Executive Officer of the European Wind Energy Association (EWEA) in Brussels.

In contrast, wind energy requires no fuel: in 2010 avoided fossil fuel cost from wind energy alone were 5.71 billion Euros in the EU; this is estimated to grow to 25.3 billion Euros by 2020. Investments made in wind energy are investments made in Europe, rather than in fossil fuel exporting nations.

“Instead of putting their efforts into increasing wind energy production for technological leadership and greater competitiveness, Governments in Europe are cutting support for renewables and relying even more on expensive fuels, often imported from countries that are far from our democratic tradition. They are shooting themselves in the foot,” added Becker.