Industry presses EU on energy prices as member states eye supply shifts

European industrial groups escalated their lobbying on EU energy pricing in mid-February 2026, according to Reuters. The push targets structural electricity and gas costs that have widened the competitiveness gap with the US and China since 2021. No specific legislative proposal was attached to the industry call in the Reuters report, but the timing coincides with the European Commission's ongoing Competitiveness Compass follow-up work.

Separately, Austria's junior energy minister told Reuters the country is pursuing renewables build-out and African gas supply routes to reduce exposure to US LNG. No volume targets or contract timelines were disclosed. The statement signals that at least one member state is treating LNG diversification as an active procurement question, not a contingency.

In the UK, Drax's carbon capture and storage plan received what Energy Live News described as 'tacit' approval: a softer signal than a formal consent decision, but enough to advance the project's development timeline. Drax's BECCS unit at Selby would be among the largest negative-emissions facilities in Europe if built to its stated design capacity.