EU Boasts Transition Plan Will Save Billions in Energy Imports ...Middle East

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The European Union eyes savings of over $47 billion in crude oil and natural gas imports with its new plan to bring down energy prices across the bloc. The plan includes measures such as faster permitting of wind and solar projects, a new formula for electricity tariffs, and a greater amount of subsidies for wind and solar, Reuters reported, citing the draft document of the European Commission that is due to be presented formally this week. Per the Commission, this could see savings of 45 billion euros this year alone. By 2030, the measures could…

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Last updated : 26 February 2025 clock 12:37 PM

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EU Boasts Transition Plan Will Save Billions in Energy Imports ...Middle East

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