Georg Zachmann
Georg Zachmann is a Senior Fellow at Bruegel, where he has worked since 2009 on energy and climate policy. His work focuses on regional and distributional impacts of decarbonisation, the analysis and design of carbon, gas and electricity markets, and EU energy and climate policies. Previously, he worked at the German Ministry of Finance, the German Institute for Economic Research in Berlin, the energy think tank LARSEN in Paris, and the policy consultancy Berlin Economics.
Disclaimer of external interests
Featured work
Adjusting to the energy shock: the right policies for European industry
In its industrial strategy response, the EU must ask if the energy-intensive parts of the value chain should be outsourced permanently.
Russian crude oil tracker
European natural gas imports
This dataset aggregates daily data on European natural gas import flows and storage levels.
Not Even a Recession: The Great German Gas Debate in Retrospect
The German economy coped with the end of Russian gas and could have equally withstood an April 2022 cut-off
Green transition: create a European energy agency
As energy and climate economists, we propose that a European energy agency be set up to guide the continent’s transition to net-zero carbon by 2050.
European natural gas demand tracker
National fiscal policy responses to the energy crisis
How important is the new electricity market reform?
Phased European Union electricity market reform
In this paper, we set out a framework for evaluating the many interrelated issues in the current EU electricity market reform.
Timing electricity market reform(s)
How can various market reform elements and processes be best timed to address short-term needs while also preparing for longer-term challenges?
EU electricity market design reform: too quick a fix for a complex problem?
EU proposals on stimulating energy investment signal a paradigm shift; much more clarity is needed before they can be agreed.
Europe is out of the immediate energy crisis
The challenge now for policymakers and industry alike is to smoothly facilitate a transition toward structurally lower gas consumption.
Europe needs new rules if Russia offers gas again
Russia could try to split the EU with a strategic gas offer. Brussels should therefore re-regulate Russian gas imports.
Is Europe failing on import diversification?
Despite a goal of economic self-reliance, the European Union’s imports are generally sourced from an increasingly limited set of suppliers.
Europe’s half a million barrels per day diesel supply question
A new European Union embargo on Russian oil products should not affect EU diesel supplies and prices, but could encourage re-routing by Russia.
Prospects of Ukraine’s green recovery
Closed-door roundtable discussion on the prospects of Ukraine’s green recovery.
Preparing for the next winter: Europe’s gas outlook for 2023
We explore in detail the two pillars of energy security: LNG supply and the nature and volume of natural-gas demand reductions.
How would the European Union fare without Russian energy?
This contribution explores how Europe can manage without the imports of Russian coal, crude oil, oil products and natural gas.
The great 2022 European energy crisis - what actually happened and how did Europe cope?
Buying time for proper electricity market reform
A structural reform of the electricity market is necessary in light of the increasing demand for electricity and the growing share of renewable energy
Beating the European Energy Crisis
The EU needs a grand bargain that reduces demand, increases supply, and keeps energy markets open.
How to address the food crisis without jeopardising climate goals?
At this event, panellists discussed the policies that EU policymakers should implement to alleviate world hunger.
A European policy mix to address food insecurity linked to Russia’s war
The food crisis creates short-term challenges but also points to systemic issues in the food sector.
Will the European Union price cap on Russian oil work?
The G7 Russian oil price cap is an ambitious but untested instrument. While pitfalls exist, the cap has the potential to be the most potent sanction.
Europe must now strike a deal on energy prices
Europe must move beyond blocking agreement on a coordinated solution and undermining EU unity in the face of Russian aggression.
The role of innovation for electricity supply security
Invitation-only event on European electricity innovation.
To cap or not to cap: the deal Europe needs on energy prices
An EU gas price cap would be counterproductive, but the reasons why it is supported widely must be acknowledged and addressed.
Rethinking Ukraine’s energy sector
What are the ideal outcomes for Ukraine's energy system, and what steps must be taken to achieve them?
Does the European Union need an energy crisis fund?
An EU energy fund is justified, but for different reasons than commonly assumed, with implications for the fund’s design.
Germany’s gas-price ‘defence shield’: problems and redeeming features
The €200 billion “defence shield” risks undermining European solidarity. This could be avoided by designing it well.
An assessment of Europe’s options for addressing the crisis in energy markets
Action to intervene in the gas and electricity wholesale markets is also being taken at European Union level, which is what we analyse in this paper.
The Sound of Economics Live: Assessing the State of the Union 2022
In this episode, we look at the State of the Union address delivered by Ursula von der Leyen, President of the European Commission.
Bruegel Annual Meetings, 6-7 September 2022
The Annual Meetings are Bruegel's flagship event which gathers high-level speakers to discuss the economic topics that affect Europe and the world.
A grand bargain to steer through the European Union’s energy crisis
The current crisis looks set to leave behind it a radically different system, but what that system will look like remains an open question
The grand energy bargain Europe needs to defeat Putin
Europe Needs a Grand Bargain on Energy
Why a “Go It Alone” Approach Will Leave Countries in the Cold This Winter
How it can be done
What would be the economic consequences of a complete halt to Russian gas imports?
A possible G7 price cap on Russian oil: issues at stake
A price cap on Russian oil might improve the current western sanctions regime, but effectiveness will depend on the west’s willingness
European Union demand reduction needs to cope with Russian gas cuts
Without Russian gas, the European Union would have to reduce demand by approximately 15%, with big differences between different parts of Europe
The role of competition in the transition to climate neutrality
The transition to climate neutrality requires the reallocation of production factors from polluting activities to non-polluting activities.
How to make the EU Energy Platform an effective emergency tool
The platform could become an effective emergency tool to safeguard Europe’s gas supply, but policymakers need to address challenges to make it work.
Europe’s Russian oil embargo: significant but not yet
The ban on most Russian oil significantly scales up the EU response to aggression against Ukraine, but the bloc should stand ready for retaliation.
The EU needs transparent oil data and enhanced coordination
The EU lacks the coordination structure and transparent data necessary to most effectively navigate an embargo on Russian oil.
For Europe, an oil embargo is not the way to go
Even at this late hour, the European Union should consider taking a different path.
How to weaken Russian oil and gas strength
Letter published in Science.
A phase out of Russian oil may be less effective than a tariff at reducing Putin’s rents
A punitive tariff on all energy imports from Russia would be a better choice than a gradually phased-in embargo on selected fuels.
A tariff on imports of fossil fuel from Russia
A tariff on imports of Russian fossil fuels would allow Europe to hit Russia's energy sector without great suffering.
How a European Union tariff on Russian oil can be designed
The European Union should apply a tariff on imports of Russian oil; it can be accompanied by a quota for a gradual, conditional phase-out.
EU risks letting Putin’s gas divide-and-rule strategy win
The 2 May meeting of EU energy ministers should deliver strong and common EU action. Failing to do so would undermine Europe’s unity, energy security
Cutting Putin’s energy rent: ‘smart sanctioning’ Russian oil and gas
Infrastructure bottlenecks prevent Russia from selling all the oil it wants to bring to market, even at lower prices.