EU promises ‘massive’ plan to cut energy bills

The European Commission has announced plans which it says will cut energy bills for households and businesses by hundreds of billions of Euro per year. The EU wants to help people struggling to pay their bills and to support industry burdened by high energy costs, which it says are more than double the US or China. According to the EU, the plan will save €45 billion this year, rising to €130 billion per year in 2030 and €260 billion by 2040. Announcing the new plan in Brussels this lunchtime, European Energy Commissioner, Dan Jørgensen, explained how it could be done.

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