BAKU, Azerbaijan, February 26. The European Commission has introduced an Action Plan aimed at reducing energy costs, enhancing energy security, and advancing the EU’s transition to clean energy, Trend reports.
The plan, part of the Clean Industrial Deal, is expected to generate savings of 45 billion euros in 2025, rising to 130 billion euros annually by 2030 and 260 billion euros by 2040.
The initiative focuses on lowering energy prices for consumers and businesses through measures such as reducing network charges, promoting long-term supply contracts, and accelerating the adoption of renewable energy. The plan also includes recommendations for EU member states to lower electricity taxes and improve market competition.
A key objective is completing the Energy Union by integrating markets, expanding interconnections, and strengthening electricity infrastructure. The plan builds on previous EU initiatives, including the REPowerEU strategy and recent electricity market reforms.
The Commission also aims to improve energy security by addressing risks such as cyber threats and supply disruptions. Measures include enhancing cooperation with regulators, increasing scrutiny of gas markets, and leveraging the EU’s purchasing power to secure cost-effective liquefied natural gas (LNG) imports.
European Commission President Ursula von der Leyen stated that the plan seeks to "drive energy prices down and competitiveness up" by removing barriers to market integration and accelerating clean energy investments.