EU's Clean Industrial Deal: A Supportive Leap for Industries

The European Commission is set to introduce a comprehensive package to aid struggling EU industries. The Clean Industrial Deal draft outlines measures such as de-risking power purchase agreements, simplifying state aid rules, setting dynamic gas storage targets, and more user-friendly carbon border duties.

The European Commission, in an effort to bolster struggling industries within the European Union, is preparing to propose a wide-ranging package of support next week. This draft, known as the Clean Industrial Deal, aims to make significant changes to enhance industrial stability and growth prospects.

A key component of the plan involves collaborating with the European Investment Bank to de-risk power purchase agreements, making it less risky for industries to secure energy supplies. Another aspect is setting dynamic targets for gas storage to ensure energy resilience across the region.

Additionally, the proposal seeks to streamline state aid rules, making it easier for governments to support their industries without running afoul of EU regulations. The introduction of more straightforward carbon border duties is also on the agenda, aiming to create a fairer competitive environment for EU businesses.

(With inputs from agencies.)