One year after the start of the war in Ukraine, the European Union declares the energy crisis of this winter over.

At the informal meeting of energy and transportation ministers of the EU in Stockholm, Commissioner Kadri Simson confirmed that despite Russia’s initial threats, member states have managed to reduce gas demand by 15% as agreed and increased imports of LNG from Norway and the United States have succeeded in reducing Europe’s fossil fuel dependence, making Russia no longer the continent’s main gas supplier.

Having overcome the initial blow, the challenge now is to ensure gas supply for next winter. Demand reduction remains a priority and although reserve levels are currently optimal, it is necessary to replenish gas storage at an affordable price to avoid extreme gas and electricity prices like those seen months ago.

The possible reform of the European electricity market to promote energy independence and consumer protection also played an important role in the meeting. The European Commission closed the public consultation two weeks ago, and a proposal is expected to be presented in mid-March.