EU plans to cut fossil fuel import costs by 45 billion

The European Commission plans to publish measures that could reduce the EU's fossil fuel import bill by 45 billion euros ($47.3 billion) in 2025. This comes as industries face challenges from weak demand and high energy costs. Proposals include speeding up permits for renewable energy projects, adjusting energy tariffs, and increasing state aid for clean industries. The measures aim to lower reliance on imported oil and gas through faster renewable energy expansion and energy savings. The Commission's analysis suggests that these changes could lead to annual savings of 130 billion euros by 2030. However, member states are not obligated to adopt all recommendations, including tax cuts to lower energy bills.