The European Commission plans to establish a Europe-wide electrification target by 2040 as part of a new initiative aimed at reducing the bloc’s reliance on imported oil and gas in light of the ongoing crisis in the Middle East.
According to a draft of the European Commission’s Electrification Action Plan, obtained by journalists and set to be published on July 17, Brussels will propose a mandatory electrification target later this year as part of a broader energy package after 2030. The specific target has not yet been determined and is left blank in the draft.
Reasons for increasing electrification
The draft states: “The recent crisis in the Middle East has demonstrated for the second time in five years the risks of the EU’s dependence on imported fossil fuels”, noting that the EU spent an additional 50 billion euros on fossil fuel imports during the 111-day crisis. In response, Brussels aims to accelerate electrification in transport, buildings, and industry, framing it as a matter of “sovereignty”, competitiveness, and energy security.
Current state and potential of electrification
The Commission estimates that accelerating electrification could replace about two-thirds of the EU’s gas demand and halve oil consumption by 2040, potentially reducing the EU’s spending on fossil fuel imports by approximately 200 billion euros over this period. Currently, electricity accounts for only 23% of the EU’s final energy consumption, a figure that has changed little over the past decade, despite the rapid growth of renewable energy.
In comparison, the draft notes that the level of electrification has already surpassed 30% in China, Japan, and South Korea. Over a longer timeframe, Europe’s progress in electrification appears even more modest, as the overall figure has barely shifted since the early 1990s.
Source: EUobserver
