EU considers measures to cut energy costs for industry

The European Union is considering short-term aid for industries facing rising costs and strong competition from the United States and China, according to an internal European Commission document seen by Reuters.

Brussels is examining options to adjust energy taxes, network charges and carbon emission costs, which significantly increase electricity bills. According to the document, network charges account for about 18 per cent of industrial electricity bills, while carbon costs make up roughly 11 per cent.

European Commission President Ursula von der Leyen wants to present specific proposals to member state leaders at the EU summit on 19 March.

The Commission also notes that legislative changes would not have an immediate effect. It is therefore considering temporary solutions for the next two to five years, until the transition to cheaper carbon-free energy sources eases pressure on electricity prices.

If the situation on energy markets worsens further, Brussels is prepared to reintroduce measures to reduce energy consumption, similar to those introduced in 2022 after Russia restricted gas supplies.

(reuters, est)