Europe has an electrification target. Here’s how it can become a competitive advantage
The European Commission has set Europe’s first ever electrification target, setting an ambition to increase electricity consumption to 46% of all energy use by 2040—double the current consumption rate. The Electrification Action Plan, unveiled by European Commissioner for energy and housing Dan Jørgensen on July 17, seeks to improve European energy security, reduce reliance on imported oil and gas, and lower energy costs for households and industry.
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The European Commission has set Europe’s first ever electrification target, setting an ambition to increase electricity consumption to 46% of all energy use by 2040—double the current consumption rate. The Electrification Action Plan, unveiled by European Commissioner for energy and housing Dan Jørgensen on July 17, seeks to improve European energy security, reduce reliance on imported oil and gas, and lower energy costs for households and industry. For decades, Europe has imported more than half of the energy that powers its economy. That dependence has left businesses exposed to geopolitical shocks, volatile prices, and supply disruptions.
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- The European Commission has set Europe’s first ever electrification target, setting an ambition to increase electricity consumption to 46% of all energy use by 2040—double the current consumption rate. The Electrification Action Plan, unveiled by European Commissioner for energy and housing Dan Jørgensen on July 17, seeks to improve European energy security, reduce reliance on imported oil and gas, and lower energy costs for households and industry.
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- 1 outlet, average source rating 6.0/10.
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Europe has an electrification target. Here’s how it can become a competitive advantage
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