REPowerEU
In May 2022, EU institutions adopted the REPowerEU Plan as a way to reduce Europe’s dependence on Russian fossil fuels and mitigate the volatility in prices driven by the energy crisis. REPowerEU is partly financed through the EU ETS revenues (grants worth €20 billion were allocated to the Member States through the Innovation Fund and the sale of Emissions Trading System (ETS) allowances).
