Brussels, Belgium. Cheaper electricity in Europe will depend on accelerating the energy transition while introducing targeted short-term measures, according to analysis by Andreas Poullikkas. He reviewed European Council conclusions adopted on March 19, 2026 on competitiveness and the single market.
Assessment of European Council conclusions
Poullikkas, a professor of energy systems at Frederick University and former chairman of the Cyprus Energy Regulatory Authority, said the effort to reduce electricity prices requires both longer-term transition policies and immediate cost interventions.
Structural risks in fossil fuel prices
He said European leaders’ recognition that price spikes in imported fossil fuels are a structural risk provides a political signal. Poullikkas said increased renewables, storage, interconnections and domestic clean production are prerequisites for strategic autonomy and permanently lower electricity prices.
Need for immediate relief
Poullikkas said European leaders also acknowledge that consumers and businesses cannot wait for the long-term benefits of the transition. He said targeted short-term solutions are necessary due to pressure from industry and households, particularly in countries and sectors facing risks of deindustrialisation and relocation of production outside Europe.
Middle East crisis and temporary measures
He said the ongoing crisis in the Middle East is already feeding into energy prices and acting as an accelerator. Poullikkas said the European Council is calling for an immediate toolbox of temporary measures to address increases in the cost of imported fuels.
What short-term measures would you expect European leaders to prioritise to reduce electricity costs?
