Financial Wire

Market Chatter: EU to Propose Energy Tax Cuts, Lower Grid Charges Amid Surging Energy Prices

-- The European Commission is expected to propose a reduction in energy taxes and power grid charges in a bid to alleviate the impact of soaring oil and gas prices on businesses and consumers, Bloomberg News reported Monday.

The commission will put forward its proposal at a meeting next week, with a policy paper set to be adopted on April 22, people with knowledge of the matter told the news outlet. The recommendation is also aimed at supporting the European Union's wider plan to utilize clean technologies as part of its goal to cut its dependence on fossil fuels.

The commission did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Market Chatter: EU to Propose Energy Tax Cuts, Lower Grid Charges Amid Surging Energy Prices | Financial Wire