Ending our dependency on Russian fossil fuels is step one! Ursula von der Leyen EU debates!

Ending our dependency on Russian fossil fuels is only the first step. The skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design. It was developed under completely different circumstances and for completely different purposes. It is no longer fit for purpose. #eudebates the unique initiative aiming to promote debate, dialogue, knowledge, participation and communication among citizens. #RepowerEU #Ukraine #VonderLeyen #EUROPE That is why we, the Commission, are now working on an emergency intervention and a structural reform of the electricity market. We need a new market model for electricity that really functions and brings us back into balance. And then, we have to look, of course, beyond energy. The green and digital transitions will massively increase our need for raw materials – take lithium for batteries, or silicon metal for chips, take rare earths – to produce magnets for electric vehicles and wind turbines. Demand for them may double by 2030. And if you look at the European demand for lithium batteries, it is set to increase at an annual rate of 40% between 2020 and 2025 – a 40% rise in demand per year. Now, the good news in that is: It means that the European Green Deal is progressing. The not-so-good news is: One country dominates the processing. Out of the 30 critical raw materials, today 10 are mostly sourced from China. So we have to avoid falling into the same dependency as with oil and gas. We should not replace old dependencies with new ones. So we must make sure that access to these commodities will not be used to blackmail us. We have to diversify the supply and build new ties with reliable like-minded partners around the globe. For this purpose, for example, I am travelling in two weeks to Canada – like-minded partners with very interesting offers. The power of democracies also depends on building strong foundations with like-minded partners for the economy of tomorrow. My second thought: We must strengthen those who believe, like us, in the value of rules, and bring them even closer. I am thinking, of course, first and foremost about Ukraine. The Kremlin's invasion aimed to pull Ukraine back towards a darker past. But instead, we are seeing the brave determination of Ukrainians to continue on their chosen path, and even speed up their process of transformation, as they rebuild their country. It is amazing to see this effort and this determination and this passion that they show. The new Ukraine, I am deeply convinced, will have stronger institutions. A modernised judiciary, but also be a greener, more digital and more resilient economy. To get there, and we are aware of that, Ukraine will need to channel enormous resources for reconstruction, map investment needs, coordinate action. All of this in support of an ambitious reform agenda. So, big tasks ahead of us. Therefore, with Ukraine in the lead, a reconstruction platform can achieve these goals. A platform open to all who care about the future of Ukraine, and to advise on the best way forward. We have to be very precise; it is a huge responsibility that we have to take.