EU Unveils AccelerateEU: €660B/yr Clean Energy Plan to End Fossil Dependence

On April 22 — Earth Day — European Commission President Ursula von der Leyen presented AccelerateEU, a comprehensive plan to address rising energy costs from the Iran conflict and accelerate Europe's clean energy transition. The plan targets €660 billion per year in clean energy investment through 2030, coordinates gas storage filling across 27 member states, establishes a new Fuel Price Observatory to track supply and shortages, and commits to an Electrification Action Plan by summer 2026 with ambitious electrification targets for industry, transport, and buildings. EU fossil fuel import costs have risen €24 billion since the Iran conflict began, with oil up 60% and gas 70%. Energy Commissioner Dan Jorgensen stated Europe must 'get rid of dependency on gas as fast as possible.' The plan directly accelerates the European Green Deal, using the energy security crisis as a catalyst to turbocharge the clean transition.