Europe’s Energy Shock Deepens: Von der Leyen Warns of €100 Billion Extra Fossil Fuel Costs!

European Commission President Ursula von der Leyen issued a stark warning over Europe’s renewed energy crisis, saying households and industries are once again being hit by soaring costs. “Families and industries are paying the cost of a crisis far beyond our borders.” Since the end of February, she said gas prices have risen by 140%, while diesel prices have doubled. The impact on Europe’s economy is enormous. Von der Leyen said imported fossil fuels are now costing Europe around €100 billion extra. “Without a single molecule of energy in addition.” She warned that the pressure could intensify further as winter approaches. Businesses are facing higher production costs. Families are struggling with bills. And Europe remains exposed to global fossil fuel shocks. “We need to act now.” Von der Leyen said emergency support must be targeted at those who need it most. She rejected blanket subsidies that could drive demand higher and disproportionately benefit wealthier households. “There should be no blanket handouts.” But her broader message went far beyond short-term relief. Von der Leyen argued that Europe must use the crisis to accelerate its break from imported fossil fuels. “When we import fossil fuels, we import the shocks and crises that come with them.” She said Europe had already dramatically reduced its dependence on Russian gas, from 45% of imports in 2022 to 12%, with the aim of reaching zero by the end of the year. More than 70% of EU electricity now comes from homegrown clean sources, including renewables and nuclear power. But major bottlenecks remain. Von der Leyen said Europe installed more than 80 gigawatts of renewable capacity last year, while six times that amount is still waiting to be connected to the grid. She called for urgent investment in grids, interconnections and electrification. The Commission wants electricity to account for a much larger share of European energy consumption by 2040. Von der Leyen said deeper electrification could slash fossil fuel imports by as much as €260 billion every…