Europe’s energy policy has failed on several fronts, according to Josu Jon Imaz, CEO of Repsol. He argued that the continent’s energy transition strategy left Europe overly dependent on Russian energy supplies while also making energy less affordable for consumers.
Speaking at the Reuters Energy Transition Europe 2022 conference, Imaz said Europe failed to secure its energy independence and struggled to balance affordability with climate goals. As per Reuters, he stressed that Europe’s heavy reliance on Russian gas exposed major weaknesses in the region’s long-term energy planning.
Dependence on Russian Energy Increased Risks
Imaz explained that Europe depended too heavily on Russian fuel imports for years. Consequently, the region faced severe energy insecurity after the Russia-Ukraine conflict disrupted supplies. He noted that many households across Europe now struggle to pay rising energy bills because policymakers overlooked affordability during the transition process.
Energy Transition Policies Spark Debate
Furthermore, Imaz criticized what he described as an “ideological” energy transition. He argued that Europe discouraged investment in certain energy sources for political reasons rather than technological or practical considerations.
According to him, these policies increased energy costs for businesses and consumers while failing to reduce global carbon emissions effectively. Although emissions within Europe declined, industrial activity shifted to other regions, which continued producing significant emissions.
Industry Leaders Call for a More Balanced Strategy
At the same time, several industry leaders have urged European governments to rethink energy policies and provide stronger incentives for investment. Recent discussions within the sector have focused on balancing sustainability goals with industrial competitiveness and energy security.
Meanwhile, companies across Europe continue to warn that regulatory uncertainty and additional taxes could slow investments in clean energy projects, including green hydrogen initiatives.
