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Energy security and industrial competitiveness: the case for a European Energy Union

Author

Listed:
  • Grynberg, Charlotte
  • Vinci, Francesca
  • De Sanctis, Alessandro

Abstract

The European energy market remains heavily reliant on imported fossil fuels and fragmented across Member States. This leaves the EU exposed to high and volatile energy prices, posing risks to its growth outlook and its international competitiveness. As the EU advances its energy security and climate neutrality objectives, the role of electricity and renewable energy is set to increase at the expense of fossil fuels. This paper argues that achieving a genuine European Energy Union would help to reach these goals and identifies five key policy priorities to support this process: strengthening cross-border infrastructure; mobilising innovative green finance; investing in tools to support flexibility and matching of supply and demand; improving the efficiency and harmonisation of energy taxation; and establishing a coherent industrial policy for clean tech. JEL Classification: Q40, Q41, Q48, O25, F15

Suggested Citation

  • Grynberg, Charlotte & Vinci, Francesca & De Sanctis, Alessandro, 2026. "Energy security and industrial competitiveness: the case for a European Energy Union," Occasional Paper Series 388, European Central Bank.
    • Handle: RePEc:ecb:ecbops:2026388
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    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • F15 - International Economics - - Trade - - - Economic Integration

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