Arthur Vašarević urges Europe to speed up electrification for economic gains

Europe has markedly increased renewable electricity generation, with nearly half of power now coming from solar, wind and hydro sources. However, electricity still accounts for only about 23 % of total energy consumption in the European Union, as transport, heating and industry continue to rely heavily on oil and gas.

Arthur Vašarević, director of Schneider Electric for the Western Balkans, says the next crucial step is to use that clean electricity in the sectors that consume the most energy. He argues that accelerated electrification of transport, heat pumps and industrial processes could reduce the EU’s fossil‑fuel imports, keeping roughly €250 billion per year in the European economy by 2040. "If we replace oil or gas with electricity produced in Europe, the money stays in the European economy," he explains.