EU Plans Lower Taxes on Clean Energy in Drive to Cut Power Bills


The plan reflects the EU’s drive to shift away from oil and gas to homegrown, renewable energy. While the region has boosted the use of sources such as wind and solar, it is still dependent on imported fossil fuels for 57% of energy consumption. The price hikes resulting from the Iran conflict are boosting Europe’s import bill by 500 million euros per day, according to commission estimates.



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