European Union: Energy

Domestic

European Commission President Ursula von der Leyen declared the past decision to reduce nuclear power in Europe a strategic mistake, announcing a new EU strategy to expand nuclear energy, including the development of small modular reactors. Concurrently, seven EU energy ministers have formally requested that the European Commission maintain existing rules on energy pricing while increasing investment in clean power. The Commission is actively considering policy measures to address high electricity costs, with a potential cap on gas prices under review.

International

Russian President Vladimir Putin stated Russia's readiness to immediately halt natural gas deliveries to the European Union, proposing to redirect supplies to what he termed friendly countries. This announcement precipitated a sharp increase in European natural gas prices, reported as the largest weekly gain in three years. In response, the European Commission urged market calm as the situation unfolded. Separately, at an international nuclear energy summit in Paris, Commission President von der Leyen reiterated the EU's strategic error in phasing out nuclear power, framing the new expansion strategy within this context.