Today, engine power plants support businesses, public services and households with energy efficient and clean gas solutions. The gas energy price crisis has again put energy prices and the linked competitiveness issues great on the European agenda.

This first panel discussion examined whether direct electrification is the best way to reduce costs or whether other avenues need to be pursued too.

The European Union strategy is to electrify whenever possible and use green gases for when that is not possible. To make the most out of it, the focus also needs to be on the efficient use of green gases.

In 2022, SMEs saw a significant rise in energy costs, and many started investing in green and efficient solutions. To keep that momentum, policy needs to respect the long investment timeframes of companies and provide independent assistance and consulting.

While challenges lie ahead, panellists agreed that Europe has valuable resources that sometimes go unnoticed. Europe’s know-how, existing leadership and capacity to innovate should be tapped into. Europe’s renewable gas potential is large, and, in some areas of Europe, energy prices are already competitive.

A comprehensive approach is needed to achieve cost-effective energy transitions. This includes both a granular analysis of system needs and a system-wide perspective that considers all energy cost components, including grid costs.

As a transition to the second panel discussion, panellists convened that security of supply and reliability will also be critical factors in reaching competitiveness.

The 2022 war and subsequent energy crisis highlighted the risks to Europe’s energy security. In response, Europe adopted a forward-looking strategy, accelerating the transition with unprecedented growth in renewables and diversifying energy sources and carriers.

A decentralised, decarbonised energy system is more resilient but presents challenges, such as cybersecurity risks, more complex governance structures, and the need for decentralised backup systems to address seasonal weather variations.

Panellists convened that, to enhance resilience, electricity systems must be complemented by other energy carriers and storage solutions, including green molecules and heat.

Looking ahead, speakers agreed that while markets are prepared to offer solutions, they require appropriate governance and policy signals. Public authorities must play a role in protecting vulnerable groups and ensuring the value of supply security is recognised. Only then can markets and consumers be safeguarded against unforeseen yet probable events.