FACTBOX-What's in the EU's plan to boost clean tech, lower energy bills?

By Julia Payne

BRUSSELS, Feb 26 (Reuters) - The European Commission proposed on Wednesday to make 100 billion euros ($104.97 billion) available to support EU-made clean manufacturing along with measures to lower power bills.

The EU Clean Industrial Deal aims to provide support for energy-hungry industries that face "high energy costs, unfair global competition and complex regulations" while also boosting the clean-tech sector.

Here are some of the main elements:

LOWERING ENERGY BILLS

The Commission will launch a pilot plan worth 500 million euros with the European Investment Bank (EIB) to guarantee long-term renewable power purchase agreements, with a focus on small and medium businesses

The EIB will also launch a package to back manufacturers of power grid components worth at least 1.5 billion euros

State aid rules are to be simplified in June 2025

The new package aims to fast-track clean energy permitting in the fourth quarter of 2025 and European Grid Package in the first quarter of 2026

It plans to extend gas storage targets beyond 2025 with more flexibility

CLEAN TECH BOOST

The Commission proposes to establish the Industrial Decarbonisation Bank in 2026 with 100 billion euros in funding based on the existing Innovation Fund and revenues from parts of the Emissions Trading Scheme (ETS)

EU-level private funding tool InvestEU will be amended to mobilise 50 billion euros in extra financing

Current EU budget will provide a total of 1 billion euros

Plan will recommend member states slash electricity taxes

It will revise public procurement rules in 2026 to favour EU suppliers

CIRCULAR ECONOMY AND TRADE

Plan will set up joint purchasing centre for metals and minerals vital for businesses in clean tech and for the bloc's decarbonisation targets

EU plans to adopt Circular Economy Act in 2026 to bring down feedstock costs and incentivise recycling of critical raw material waste

It will launch new clean trade partnerships globally and simplify carbon duties (CBAM)

CBAM review set for the third quarter of 2025 before it starts collecting fees on imports of steel, cement and other goods in 2026

Make fast use of anti-dumping and anti-subsidy duties to battle global surpluses

SECTORAL ACTION PLANS

Automotive sector to be adopted on March 5

Steel and metals action plan in second quarter of 2025

Chemicals industry to be adopted in late 2025

Sustainable Transport Investment Plan in 2025