BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European Commission has announced seven specific actions to be implemented in close cooperation with the Member States to urgently bring energy prices down and provide quick relief to industrial and households' consumers.
These actions include making full use of the enhanced state aid framework, maximizing the use of EU cohesion funds, putting focus on cross-border interconnectors and grid infrastructure, and further diversifying EU gas supplies.
Energy prices in Europe remain too high compared to its competitors, with a risk of hindering the competitiveness of major industrial players and EU economy overall.
Another key factor keeping energy prices high in Europe relates to taxation, especially for electricity. Taxes can represent up to a third of the energy bill. Reducing them can make a real, immediate difference, notably for energy-intensive industries and vulnerable consumers. The Commission said it will shortly issue recommendations and come forward with additional assistance on lowering energy bill taxation.
European Commissioner for Energy and Housing Dan Jorgensen said, 'We have taken action to lower energy prices from day one, most notably with the Affordable Energy Action Plan, that starts showing its effects on the ground. However, prices remain too high compared to our main competitors. Our citizens and our businesses, notably energy-intensive industries, need quick relief. It is our shared responsibility, together with Member States, to step up the game and deliver concrete solutions fast.'
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