It has always been clear that independence from Russian gas and oil is expensive.
The figure that Brussels has now put out there is nevertheless impressive: the European Union must invest 300 billion euros by 2030 in order to break away from Russia.
The money should flow into the faster expansion of renewable energy, energy efficiency, biomethane and green hydrogen.
After all, these are investments that would have been necessary anyway to achieve the climate goals – even if the faster pace also drives up prices.
The situation is different with the planned expansion of the infrastructure in order to replace Russian oil and gas with supplies from others.
Some pipelines and some liquid gas terminals will have to be written off in a few years.
The good news is: money is available.
The EU benefits from the fact that the Corona Fund was oversized.
So far, no state has claimed 225 billion euros in loans.
There is therefore no reason to call for the next fund.
But that won't deter the usual suspects.Keywords: