The European Union set out proposals for member states to help protect their most vulnerable companies and citizens from the unprecedented surge in energy prices.
The rally in natural gas, power and emission permits is hurting consumers from German chemicals producers to Spanish households just as economies recover from the pandemic, boosting demand. With the bloc saying Tuesday it expects high prices through the winter, calls for coordinated action are getting louder.
The measures include short-term tax cuts for parts of the population and aid to industry to cope with rising costs, according to the proposals that will be presented to national leaders at a meeting next week. The plan is designed to support the green transition without increasing the use of fossil fuels.
