Reducing dependence on imported oil and gas is the top expected benefit of the energy transition for European consumers, according to a new report by the European Investment Bank (EIB).
The EIB’s eighth Climate Survey found that 82% of respondents expected the energy transition to reduce reliance on fossil fuels, while a similar percentage (79%) expect it to deliver steadier or lower energy prices. Some three quarters of respondents expect the energy transition to slow climate change.
‘Break free from dependence’
“With an energy transition in full swing, Europe is on track to break free from its dependence on fossil fuels,” commented EIB Group president Nadia Calviño. “In a rapidly shifting geopolitical landscape, this is both the right thing to do for the planet and the smart thing to do for our economies, in order to bring down energy costs for businesses and households.”
The survey was conducted by Ipsos bva among 23,000 consumers across all 27 EU member states, and found that six in ten (60%) had ‘significantly cut’ their purchasing power over the past 12 months as a result of increased oil, gas and fuel prices.
This was most pronounced in Romania, Greece and Bulgaria, where 80%, 78% and 74% of respondents, respectively, said that their purchasing power has fallen significantly.
On a pan-European basis, around two fifths (38%) said that they had cut everyday spending on food or health, while just over a third (34%) had turned down their heating. Some 16% of respondents said that they had gone into debt a a result of increased energy prices.
Elsewhere, some 87% of Europeans want low-carbon energy to be prioritised, with 52% calling for more investment in solar, and 37% urging more wind energy investment.
Made in Europe
Support for developing European manufacturing was the preferred option in all 27 Member States – with 55% of respondents calling for the development of a ‘competitive European clean-technology industry’ – while 68% said that they believe their country should cooperate more with other EU countries on the energy transition.
‘59% would rather see EU countries pool their resources to finance the investments, compared with 31% who would prefer each country to finance them on its own,’ the EIB noted. ‘In all 27 Member States, Europeans prefer to pool resources.’
The survey was conducted by Ipsos bva between 3 and 25 August 2026. Read more here.
