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European auditors find less than one-fifth of allocated funds committed as renewable energy targets miss by a wide margin
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The European Union promised to break up with Russian fossil fuels. Three years later, the relationship status is best described as “it’s complicated.”
A scathing report from the European Court of Auditors, released on September 9, found that the EU’s flagship REPowerEU plan is dramatically underperforming on nearly every metric that matters. Of the €300 billion allocated from EU recovery funds for the energy transition, only about €54.3 billion had been committed by member states as of April 2026. That’s less than one-fifth of the pot, with time running out.
