President Juncker, Vice-President Šef?ovi? and Commissioner Arias Cañete are very supportive of energy efficiency. They’re calling for higher ambition and an ‘efficiency first’ approach to energy policy. But this is being undermined by modelling methodology which assumes renovating a building in Europe is riskier than drilling for oil in a war zone. It’s the high discount rate issue – and it must be fixed as soon as possible.