The European Commission will propose that EU countries cut taxes on electricity and subsidise prices as a quick way to soften the energy price shock caused by the US-Israeli war on Iran, Commission head Ursula von der Leyen has told a news conference according to Reuters.

“In some cases, electricity is taxed much more than gas, up to 15 times more. And this cannot be so. We will propose to lower tax rates on electricity and to make sure that electricity is taxed less than fossil fuels,” she said.

“Member states can already make use of state aid measures to compensate for the cost increases of the energy source, and we and we will further flexibilise state aid,” she said.