EU energy imports exceed €100 billion after Iran war disruptions
The EU just had to shell out over €100 billion ($113.5 billion) for energy imports thanks to the outbreak of the Iran war and disruptions in the Strait of Hormuz.
This has exposed how much the EU relies on outside sources for its energy, and with prices up, consumers in some European countries are now paying nearly 50% more at the pump.
EU officials call for homegrown power
EU energy commissioner Dan Jorgensen pointed out that all this extra spending hasn't actually brought in more energy, which is worrying for future security.
He's urging a shift toward homegrown electricity and local power sources.
Sari Multala, the Finnish environment minister, pointed to her country as an example of energy independence, highlighting Finland's steady model based on nuclear reactors, turbines, peat bogs, and hydropower dams, which provide 95% of Finland's electricity and create very reasonable prices for electricity.
Ireland's minister for climate, energy and the environment, Darragh O'Brien, also warned that a possible ban on diesel exports could make things even tougher, so being prepared is key.