The author describes the effects of energy conservation measures on the European Union’s economy. He analyzes the possible benefits of efforts to promote a more economical use of energy resources. The author focuses on a package of measures and instruments for an improvement in energy efficiency proposed by the European Commission, analyzing their possible application. He also describes the system of “white certificates” already used in several EU countries, and the practical effects of this mechanism. The research methods used by the author include a descriptive analysis and comparative analysis based on tables and charts with statistical data. The article confirms that energy conservation has great potential for the EU. In the coming years, new measures are likely to be adopted to make the use of energy more efficient in EU member states.