EU plans to increase energy electrification target to 46 percent by 2040
Sofia, July 21 (Hibya) – According to the Confederation of Employers and Industrialists in Bulgaria, the European Commission has unveiled its Electrification Action Plan, which aims to increase the share of electrification in the European Union’s total energy consumption from the current 23 percent to 46 percent by 2040.
According to the Commission’s plan, increasing electrification is expected to reduce the EU’s oil demand by 40 percent and natural gas demand by 70 percent. However, instead of the previously proposed legally binding target, the 46 percent figure has for now been set as an indicative target.
The plan envisages expanding the use of heat pumps, strengthening electric vehicle charging infrastructure, and supporting investments in industrial electrification. Member states were also urged not to tax electricity more heavily than natural gas. The European Commission stated that electrification is intended to reduce Europe’s dependence on fossil fuel imports and lower energy costs.
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