11:13 - 7.06.2026
June 7, Fineko/abc.az. The European Union is developing plans to reduce taxes on renewable energy and enhance power grid flexibility as high costs continue to weigh on the regional economy.
According to a draft document obtained by Bloomberg and reported by ABC.AZ, the European Commission intends to propose a new regulation next month introducing clean energy tax incentives and targets for smart meter rollouts.
Although the EU has scaled up wind and solar power utilization, it remains 57% dependent on imported fossil fuels for its total energy consumption. The Commission estimates that energy price spikes triggered by the Middle East conflict involving Iran are inflating Europe’s import bill by EUR 500 million per day. The proposal will mandate a bloc-wide minimum installation requirement, ensuring that at least half of the final consumers in each member state are covered by smart meters by the end of the decade.
