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2026-04-14 20:23:06
[EU to Launch "Accelerate EU" Plan to Address Energy Price Shocks and Accelerate Electrification] (1) The EU will launch a package of measures next week to address the energy price shocks caused by the war in Iran and accelerate economic electrification to avoid a future fossil fuel crisis. (2) According to a draft seen by foreign media, the European Commission will propose the "Accelerate EU" plan on April 22, which includes reducing electricity taxes and incentivizing a shift from oil and gas to clean energy; a "list of measures" to reduce energy demand will also be released before the ministerial meeting next month. (3) The war in Iran has exposed the vulnerability of Europe's reliance on imported fossil fuels, and recent attacks on Middle Eastern energy facilities and the disruption of shipping in the Hormuz have led to a surge in oil and gas prices. (4) The EU plan is based on five pillars: strengthening coordination among member states in gas storage and release, providing targeted support to consumers and industries, reducing oil and gas consumption, promoting electrification, and incentivizing investment in energy transition.
