The European Commission has introduced a 10-point action plan aimed at reducing energy costs and improving access to affordable energy across the EU. This initiative seeks to enhance energy market efficiency, boost renewable energy deployment, and support industries and households facing high energy prices.

Key Objectives of the Action Plan

• Lowering Energy Costs:
  The plan aims to cut energy costs for households and businesses, with estimated annual savings of €45 billion in 2025, rising to €130 billion by 2030 and €260 billion by 2040.
• Completing the Energy Union:
  The Commission is accelerating investments in clean energy and infrastructure, ensuring market transparency and promoting fair competition in the natural gas and electricity markets.

10 Measures to Reduce Energy Costs and Enhance Accessibility

1. Lowering National Electricity Taxes
   EU member states are encouraged to reduce national electricity taxes, making energy more affordable for consumers and industries.
2. Easier Supplier Switching for Consumers
   Consumers will have greater flexibility to change energy suppliers, allowing them to find better and more cost-effective energy plans.
3. Accelerating Renewable Energy Licensing
   The plan streamlines the permitting process for renewable energy projects, reducing bureaucratic delays and lowering electricity production costs.
4. Boosting Investments in Clean Energy
   Increased financial support for renewable energy and grid infrastructure will ensure long-term price stability and energy independence.
5. Expanding Energy Storage Capacity
   Strengthening Europe’s battery and hydrogen storage capacity will help stabilize energy supply and prevent price fluctuations.
6. Enhancing Energy Market Transparency
   The EU will improve oversight of electricity and gas markets to prevent price manipulation and ensure fair competition.
7. Promoting Cross-Border Energy Trade
   By increasing interconnections between EU countries, energy supply can be better distributed, avoiding price spikes in individual regions.
8. Supporting Energy Efficiency in Industry
   The Commission encourages energy-intensive industries to adopt energy-saving technologies, reducing overall consumption and costs.
9. Strengthening Social Support Measures
   Vulnerable households will receive additional subsidies and energy bill relief to protect them from extreme price increases.
10. Developing a European Energy Resilience Strategy
    The EU will enhance emergency preparedness to prevent future energy crises, ensuring supply security across all member states.

Building on Previous Energy Initiatives

This action plan builds on existing EU energy policies, including:

• Electricity Market Reform
• REPowerEU Plan (to reduce dependence on fossil fuels)
• Sectoral Strategies for Wind and Solar Energy
• Updated “Fit for 55” Climate and Energy Laws

With these measures, the European Commission aims to stabilize energy prices, improve supply security, and accelerate the green transition. By removing market barriers, expanding renewables, and supporting energy consumers, the EU is taking a significant step toward a sustainable and competitive energy future.

View the whole plan by commission!