The European Court of Auditors has found that implementation of REPowerEU is stalling, a September report says. The plan was created in May 2022 to end EU imports of Russian fossil fuels and to accelerate the clean energy transition.
Member states had allocated 54.3 billion euros to the plan’s targets by April 2026, about 18 percent of the 300 billion euro total. The auditors also say the NextGenerationEU recovery fund, mainly through its Recovery and Resilience Facility, has produced only limited results so far.
Investment falls short
The report says not enough investment has been mobilised to speed up the clean energy transition. It also finds too little money has gone into strengthening cross-border interconnections.
The auditors note that the decline in Russian energy supplies is attributable mainly to market processes and high prices. They do not credit the direct impact of EU programmes for that drop.
Recovery fund under scrutiny
The Recovery and Resilience Facility sits at the centre of NextGenerationEU, and its results so far have been limited, according to the report. Spending by member states is still far from the plan’s stated envelope.
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Source: European Court of Auditors
