There was much praise for Ursula von der Leyen yesterday for her State of the Union speech. However, some of her proposals are no longer quite so fresh. In the case of the European Hydrogen Bank, for example, only the name is new. Still, there were surprises, such as the fact that the middle class received so much attention in her speech. We listened closely and summarized the most important statements made by the Commission President and initial reactions. In our news section, we also report on the details of the planned reform of the EU electricity market.