EU to Bet on Electrification to Avert Recurring Energy Crises

The European Union will float a series of measures next week to help the continent deal with the Iran war’s energy price fallout, as well as electrify the economy to avert future fossil fuel shocks.

The European Commission will put forward an “AccelerateEU” plan on April 22, including a renewed effort to cut electricity taxes to incentivize a shift away from oil and gas, according to a draft document seen by Bloomberg News.