According to EU Commission Senior President Timmermans, who emphasizes that price increases in the energy sector should not slow down the transformation, transition to renewable energy needs to be accelerated.

Frans Timmermans, Senior President of the European Union (EU) Commission, said that the recent increase in energy prices should accelerate transformation into renewable energy.

At the European Parliament (EP) General Assembly session held in Strasbourg, Timmermans spoke about the report of the Intergovernmental Panel on Climate Change (IPCC) within the United Nations (UN) and the EU’s goal of reaching net zero carbon emissions by 2050.

Pointing out that climate change and environmental destruction have become an “existential threat” for humanity, Timmermans said that various solutions should be produced urgently in this regard.

Stating that this generation is responsible for solving the climate change problem, Timmermans said, “If we do not act now, things will get out of control and our children will never forgive us.”

Reminding that the IPCC report shows that the “critical threshold” will be crossed if action is not taken now, Timmermans said that the EU introduced a holistic approach to the climate change problem.

Timmermans noted that all measures to be taken in this regard will have a price effect, and that politics should ensure that this effect is spread equally in society.

Reminding that price increases in energy sector have been discussed recently, Timmermans said, “Only one-fifth of the increase in energy prices can be attributed to carbon prices. The other reasons for this increase are the result of the shortages in the market.”

Timmermans added, “If the European Green Deal had been made five years ago, we would not be in this situation today because we would be less dependent on fossil fuels and natural gas. We would see renewable energy prices remain low and stable.”

Emphasizing that price increases in the energy sector should not slow down the transformation, Timmermans noted that transition to renewable energy should be accelerated.

With the increasing global natural gas demand recently, carbon prices are also increasing. Therefore, electricity prices in European countries are increasing rapidly.