Energy security comes to the fore for European infrastructure

Geopolitical concerns related to the war in Ukraine caused surging power prices and extreme power market volatility. Energy security is taking the driving seat in European energy strategies – but is that happening at the expense of energy transition objectives? Longer-term the EU plans to diversify from Russian natural gas will give a double push to renewable energy as the lowest-cost and independent power source. But the path is not going to be linear. In the short term, we expect more investments in gas infrastructure, nuclear energy and possibly running coal plans for longer.