EU leaders open Brussels summit focused on energy prices and competitiveness

The European Council met in Brussels on October 15-16, 2026, with the economy at the top of the agenda in the face of mounting geopolitical uncertainty. Leaders were expected to give the European Commission a mandate for targeted and temporary short-term measures to cushion households and businesses from high energy prices, while also debating the bloc's longer-term strategy to reduce dependence on fossil fuels. The summit will also review the implementation of the One Europe, One Market competitiveness agenda for 2026-2027, intended to tackle slow productivity growth, high industrial energy costs and global macroeconomic imbalances that are squeezing European manufacturers. Beyond the economy, the agenda covers the EU's next multiannual budget, continued support for Ukraine, defence and security, migration policy and developments in the Middle East. Officials said the discussions on competitiveness are shaped by the heavy burden energy-intensive industries now carry versus US and Asian rivals, with calls for faster permitting, cheaper electricity and simpler single-market rules. The summit comes against a backdrop of a cooling eurozone economy and persistent inflation in energy-sensitive member states.