More than 70 companies issued a call on Thursday 21 May to accelerate the electrification of the European Union so that it accounts for 50% of energy consumption by 2040. Among the signatories, which represent €1,590 billion in combined annual turnover and employ more than 880,000 people, are the Spanish group Iberdrola, the Swedish Ikea and Volvo, the French EDF, but also Amazon, Microsoft, Coca-Cola and Google.
In 2024, the EU energy mix consisted of 23% electricity, 37% petroleum products, 20% natural and manufactured gas, 12% renewable energies not converted into electricity, 5% derived heat and 2% coal, according to Eurostat.
The European Commission will present its ‘Electrification Action Plan’ on 10 June. The companies recommended that it “promote electrification through a clear industrial and energy strategy, set a 50% electrification target in the EU by 2040, provide effective and stable incentives, notably by preserving the integrity of the Emissions Trading System (see EUROPE 13871/7), prioritise electrification in European funds and the EU’s next Multiannual Financial Framework (2028-2034), and take advantage of the digitalisation of electricity distribution networks”.
Read the letter: https://aeur.eu/f/lzj (Original version in French by Nadège Delépine)