Europeans appear to be shifting their concerns away from the energy crisis that unfolded in the aftermath of Russia's invasion of Ukraine, based on a new poll.
The study, published on July 10, shows energy falling from third to sixth spot in the list of "main concerns at European level."
The spring edition of the Eurobarometer, which surveyed citizens across the European Union's 27 member states between May and June, reveals that energy has dropped from the top five worries at the European level. This marks a significant decline in concern since the winter edition, which covered January and February.
The poll indicates that inflation and the cost of living remain the primary concerns for 27% of respondents, closely followed by the international situation, primarily referring to the Ukraine war. However, both of these concerns have receded over the past six months. Immigration, on the other hand, has surged to the third position, with 24% of respondents expressing concern. This increase can be attributed to recent tragedies in the Mediterranean Sea and the logistical challenges faced by governments in receiving asylum seekers.
The renewed focus on migration has prompted EU leaders to push for reforms in the bloc's common asylum rules. However, the topic has proven to be explosive and unpredictable, as demonstrated by the sudden collapse of the Dutch ruling coalition.
Climate change (22%) and the economic situation (17%) round out the top five concerns of European citizens. In contrast, energy has seen the most significant decline across the board, dropping from 26% in the previous Eurobarometer to 16% in the latest edition. Notably, Greece remains the only member state where energy is the top concern, tied with immigration at 25%.
This shift in perception regarding energy comes after several months of decreasing gas prices. The trading price at Europe's leading hub, the Title Transfer Facility (TTF), closed at €33 per megawatt-hour on July 7, a significant decrease compared to the high prices experienced in 2022. The stability in global energy markets has allowed governments to replenish their underground storage facilities without triggering price spirals. The EU's storage levels currently stand at almost 80%, compared to 60% last year.
The successful response to the energy crisis is attributed to a combination of personal measures, policy initiatives, and external factors that worked together to rebalance the supply-demand imbalance and curb speculative behavior. The Eurobarometer results indicate broad support for the actions taken during the crisis. Approximately 85% of respondents believe that the EU should invest heavily in renewable systems, while 82% think the bloc should reduce its dependency on Russian fossil fuels as soon as possible.
Furthermore, 78% of those surveyed say they have already taken steps to reduce their energy consumption at home or plan to do so in the near future. Policymakers and analysts credit personal savings as a key driver in stabilizing the energy market.
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