Published by Global Banking & Finance Review®
Posted on February 26, 2025
1 min readLast updated: January 25, 2026
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The EU Commission's plan to aggregate LNG demand aims to cut energy costs and promote decarbonisation by engaging with reliable suppliers.
BRUSSELS (Reuters) - The European Commission unveiled on Wednesday its Affordable Energy Action Plan, which aims to cut industrial and household bills by tens of billions of euros and speed up the decarbonisation of power markets.
As previously reported by Reuters, the Commission aims to save Europeans 45 billion euros ($47.25 billion) in 2025 and 260 billion euros ($273.03 billion) by 2040.
The Commission said it will look at investing in liquefied natural gas (LNG) projects abroad as part of plans to "immediately engage" with reliable suppliers to try to lower energy prices. Further, it will look to aggregate LNG demand from European companies to help them secure long-term deals as a shelter from short-term volatility.
In addition, the Commission will recommend that member states lower electricity taxes as well as increase scrutiny of gas markets.
($1 = 0.9523 euros)
(Reporting by Julia Payne; Editing by Ingrid Melander)
The plan aims to cut industrial and household bills by tens of billions of euros, targeting savings of 45 billion euros in 2025 and 260 billion euros by 2040.
The Commission plans to invest in liquefied natural gas (LNG) projects abroad and engage with reliable suppliers to help lower energy prices.
The Commission will recommend that member states lower electricity taxes and increase scrutiny of gas markets to enhance energy affordability.
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