EU Electrification Plan Falls Short Without Greater Ambition, Diplomacy and Finance
Brussels. As the European Commission unveils its new Electrification Action Plan, aiming to nearly double the share of electricity in the EU’s total energy consumption to 46% by 2040, 350.org has welcomed the initiative but warned that that ambition must rise further, while deeper diplomatic engagement with emerging economies, most notably China, and stronger financial support for developing countries remain critical gaps in the EU’s strategy. The EU’s current electrification rate has plateaued at around 23% of final energy consumption for a decade.
At the same time, 350.org expressed concerns over concomitant reforms and steps to weaken the Emission Trading System (ETS) of the EU – while the EU pursues steps to widen the sectoral reach of ETS it is slowing the pace of decarbonization and extending exemptions with free permits to some other sectors such as steel.
The Commission is now framing a rapid doubling of that figure not simply as a climate measure, but as a matter of economic and national security, a direct response to the fossil fuel crisis and the bloc’s continued heavy exposure to volatile global fossil fuel markets. The EU currently imports more than 80% of its natural gas and over 90% of its oil, and estimates that hitting the 46% target could cut its fossil fuel import bill by up to €260 billion a year by 2040.
350.org says this moment, where energy security and climate policy are converging, is exactly why the plan’s success will hinge on what actually powers the grid.
Andreas Sieber, Head of Politics at 350.org, said:
“Europe’s electrification push is important, but the level of ambition still falls short of what the climate and energy security crises demand. The EU now needs a far stronger strategy to deepen diplomatic engagement with emerging economies, most notably China, and mobilise credible financial support for developing countries. Electrification must, of course, be powered by renewables rather than locking in new fossil fuel infrastructure. Without greater ambition, serious international outreach and finance that matches the scale of the challenge, Europe risks pursuing a transition that is too slow, too narrow and leaves too many countries behind.”
“Energy is a basic need. As Europe electrifies, clean energy has to be affordable and accessible to everyone, not just those who can pay. Right now, the price signals are working against the switch the EU says it wants people to make. This is a moment to build a fairer energy system, not deepen existing inequalities. Without deliberate policies on affordability and access, millions could be left behind, particularly the communities already hit hardest by the climate crisis and by volatile fossil fuel prices.”
ENDS