EU Commission proposes 2040 electrification target to cut fossil fuel imports

The European Commission has drafted an Electrification Action Plan that will be presented on 17 July, proposing a binding EU‑wide electrification target for 2040. The plan seeks to boost the share of electricity in final energy consumption, which has stalled at about 23 % for a decade, in order to cut the bloc’s reliance on imported oil and gas highlighted by the recent Middle‑East crisis.

The Commission estimates that faster electrification could replace roughly two‑thirds of EU gas demand and halve oil use by 2040, saving about €200 billion in fossil‑fuel import costs. The plan also calls for expanding electricity storage to 200 GW by 2030, introducing vehicle‑to‑grid standards for new EVs by 2027, and developing a methodology to assess flexibility in industry and data centres.