WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 130
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ARTICLE
Sovereignty initiatives and impact on
final prices
The 2022 Inflation Reduction Act in the USA aims to boost
low-carbon energy and the American economy, with support
exclusively for USA-based companies. The goal is also to
lower local energy prices, though there are ongoing debates
about the actual impact of this regulation on electricity price
reductions. Additionally, the USA has implemented taxes to
curb the influx of Chinese electric cars and diminish the
competitiveness of Chinese solar panels.
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ARTICLE
Europe is more advanced than the USA in terms of energy
transition. However, the USA is showing the way forward as it
relates to sovereignty. The USA, which is largely selfsufficient and even an exporter of fossil fuels, is successfully
attracting low-carbon projects such as gigafactories. In
contrast, European sovereignty measures, which are
significantly less robust than those in the USA, are likely to
result in higher energy prices for consumers.
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Geopolitical impacts will maintain
uncertainty in energy markets
• Europe has voted on many regulation packages devoted to
climate change, energy and industry, notably:
• Fit for 55 (decarbonation)
• Net zero Industry Act (revitalizing European industry
from a climate change perspective)
• REPowerEU (managing the Ukraine/Russia war
consequences and securing European energy supply)
WEMO 2024
• Energy Market Reform
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