Europe's energy taxes are worsening industry woes, power CEO says

Contributing sentiments towards policy:

62% : The EU will publish a plan on affordable energy prices early next year.
55% : Reporting by Kate Abnett and Julia Payne; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles., opens new tabSuggested Topics:Climate & EnergyRegulatory OversightGovernanceGrid & InfrastructureClimate ChangeKate AbnettThomson ReutersKate Abnett covers EU climate and energy policy in Brussels, reporting on Europe's green transition and how climate change is affecting people and ecosystems across the EU.
51% : We need to see a larger context," the senior official said.Wholesale power prices in Europe last month climbed to their highest levels in over a year, although they remain far below their peak in 2022, after Russia invaded Ukraine and slashed gas deliveries to the EU.
49% : A senior official from one EU country said cutting taxes would provide only "limited" help, and broader measures were needed to help European industries compete with China - for example, EU rules requiring public procurement to buy locally-made, greener products.
48% : "If we are serious about cost competitiveness, if we're serious about electrifying, if we're serious about decarbonising, I think we need to act on this," he said.EU industries pay power prices 2-3 times higher than those in the U.S. Taxes made up, on average, 23% of the retail electricity price paid by Europe's energy-intensive firms in 2023, analysis by the think-tank Bruegel showed.
26% : Negotiations among EU countries on a proposal to rejig EU tax rules in favour of cleaner energy sources have been stuck since 2021.

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