The European Union plans to introduce short-term measures on energy taxes, energy infrastructure and a carbon tax to support industries hit by rising prices, Reuters reported, citing a document it has.
“Any legislative proposal will not be implemented immediately; a temporary solution may be needed to reduce energy prices over the next two to five years while the transition to clean energy eases the pressure on prices“, the agency quoted an excerpt from the document.
Brussels is forced to seek quick solutions due to demands from businesses, which were losing to the United States and China even before the escalation in the Middle East. European Commission President Ursula von der Leyen has promised to present the proposed measures to EU leaders at a summit on March 19.