EU Plans Lower Taxes on Clean Energy in Drive to Cut Power Bills

The European Union is developing plans to cut taxes on renewable energy and make electricity systems more flexible as high costs continue to weigh on the region’s economy.

The European Commission plans to propose a new regulation next month that introduces goals for smart meter adoption and tax changes designed to promote clean energy, according to a draft document seen by Bloomberg News. The Middle East war has pushed energy to the top of the EU political agenda as concerns mount over the economic fallout from higher power bills.

“This proposal addresses concerns on rising energy costs, since they are ...