Subject to the premises stated in the article published on the European Union's website, the need for a plan that both supports energy-intensive companies and promotes the development of clean technologies, with a focus on the Circular Economy,the real innovations of this new plan (which, in some way, marks the first step beyond the limitations of the "EU Green Deal") consist of these three key points:

Simplifying State Aid regulations, making it easier for individual EU countries to allocate public funds to companies active in renewable energy and clean tech. This includes allowing "European preference criteria in public procurement rules for strategic sectors" (the "Buy European" clause) and introducing qualitative requirements and criteria that provide a concrete advantage to manufacturers of products relevant to the energy transition, if they can demonstrate investments in decarbonization.

Establishing the Industrial Decarbonization Bank, with a €100 billion fund to finance the decarbonization of major industrial processes across various sectors. This funding will be partly sourced from the reallocation of resources from the Innovation Fund and partly from additional revenues generated by the Emission Trading System and the restructuring of the InvestEU plan.

Amending the InvestEU fund regulations to increase its risk-bearing capacity, resulting in an additional €50 billion in public and private financing for Clean Tech, Clean Mobility, and Waste Reduction.

It is also noteworthy to mention the adoption on February 26 of the Action Plan for Affordable Energy, which promotes long-term energy purchase contracts, including cross-border agreements, backed by guarantees from the European Investment Bank (EIB). The plan also explicitly recommends that member states immediately reduce electricity taxes while awaiting the conclusion of negotiations on the Energy Taxation Directive. Additionally, it calls for shortening authorization times for renewable energy production and energy storage projects.

These and future actions, which are necessary given the current geopolitical and macroeconomic landscape, are closely aligned with the recommendations outlined in the "Draghi Plan." The overarching principle driving this initial phase of the new EU policy direction is not to pursue decarbonization "immediately and at all costs," but rather to do so only if it remains compatible with the competitiveness of the European economy. In this context, an Action Plan for the Automotive Industry has been announced for March, followed by an Action Plan for Steel and Metals in the spring (with subsequent plans for the Chemical Industry and the Clean Tech Industry).

Is this the right path? Is it enough?

From a competitiveness standpoint, we would like to see a stronger push for #DigitalEnergy technologies, as they are #disruptive and have the potential to reshape business models creating a European energy market and system that would be difficult for non-EU competitors to penetrate, especially if coordinated with measures to ensure technological autonomy in #AI and #CloudComputing.