EU unveils plan to double electricity's share to 46% by 2040

The European Commission presented an ambitious action plan to raise the share of electricity in total EU energy consumption from the current 23% to 46% by 2040. The proposal, driven by Commission President Ursula von der Leyen and Energy Commissioner Dan Jergenesen, aims to cut the Union’s dependence on imported fossil fuels – seeking a roughly 40% drop in oil demand and up to a 70% reduction in gas imports.

Key measures include lowering the price gap between electricity and gas, reducing network fees, expanding smart‑meter rollout, strengthening the EU carbon market, and phasing out subsidies for fossil fuels. The plan also promotes heat pumps, electric vehicles and battery storage to accelerate decarbonisation. While the target remains a recommendation rather than a binding rule, the Commission estimates annual savings of up to €260 billion on fossil‑fuel imports. The strategy relies on expanding renewable and nuclear generation, which already provides over 70% of EU electricity.