In an effort to counter Europe's industrial decline, the European Commission is taking significant steps to simplify state aid rules and reduce energy costs for its industries. A draft document outlines strategic measures including risk mitigation in power purchase agreements and relaxed regulations on winter gas storage.
Central to this initiative is the Clean Industrial Deal, a part of the Commission's competitiveness plan, aimed at supporting energy-intensive industries facing rising energy costs and complex regulations. The plan includes a pilot programme with the European Investment Bank to alleviate risks for small and medium-sized companies, fostering a more robust clean-tech sector.
Further, the EU plans to revamp power grids, reduce electricity taxes to legal minimums, and enable rapid deployment of anti-dumping duties. The initiative is expected to mobilize current budget funds and introduce a Competitiveness Fund while coordinating with global partners to combat protectionist measures.
EU's Bold Steps for Industrial Revival in Energy Sector
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