REPOWER EU – A challenge and an opportunity

By Maria Barros Silva (Associate Lawyer at SRS Advogados – Energy and Competition Law) and Nuno Calaim Lourenço (Managing Associate at SRS Advogados – Energy and Competition Law)

1. Context

The energy sector is cyclical by nature. History offers several examples of market expansion followed by very sudden contractions. Unfortunately, the current crisis differs from previous ones. To put things into dire perspective, the European Union (“EU”) heavily relies on fossil fuel (gas, oil and coal) imports for its energy needs, amounting to circa 60% of gross energy consumption in the past 5 years. The EU imports 90% of its gas, with Russia previously accounting for 45% of those imports, as well as for 25% of oil and 45% of coal. Although European domestic production of renewable energy sources has increased significantly in recent years, the intermittent nature of the so-called “green energy”, coupled with limited renewable-energy storage and a drastic and intransigent reduction in the production of EU coal, lignite and gas has meant that the EU remains energy dependent.

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Thinking about the post-COVID-19 world is putting the European Green Deal into practice: this is the time for the European Union to respond in line with “green”

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 by Nataly Machado, Master's student in EU Law, UMinho

There are several reports of reductions in pollutant emissions caused by the global shutdown due to the pandemic. Images taken via satellites and drones show us the record of abrupt drops in air and water pollution levels[i].

Unfortunately, there are also news about increased deforestation in areas such as the Amazon and the Pantanal[ii], concomitant with the new coronavirus crisis. In addition to what happens during the pandemic, the concern exists for the forthcoming post-crisis, which may show a sharp increase in the level of pollutant emissions due to the economic recovery, as occurred in other post-crises, such as the Spanish flu in 1918, the Great Depression in 1929 and the financial crisis in 2008[iii].

It is a reality that the new coronavirus has changed and will change, drastically, the people’s and public authorities’ priorities. Life must be protected. Until a vaccine is developed, public health control measures combined with strict social and economic measures will be implemented to handle the consequences that have already affected many countries around the globe.
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