Target of 46% electricity share… EU faces task of expanding power grids and storage by 2040
Original headline전력 비중 46% 목표…EU, 2040년까지 전력망·저장 확대 과제
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The European Commission on July 17 unveiled an electrification action plan targeting a rise in electricity's share of final energy consumption from roughly 23% to 46% by 2040, a provisional goal covering industry, transport and buildings. The plan projects that hitting the target could cut fossil fuel import costs by up to €260 billion annually, and it pairs the electrification push with a call to expand power grids and storage capacity. The announcement coincided with sharp volatility in German and Luxembourg wholesale power markets, where 15-minute prices reached €653.38 per MWh. The 46% figure remains provisional, and the scale of grid and storage investment needed to absorb higher electricity demand will be the key issue to watch as the plan moves toward finalization.
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Named in this story
European Union, European Commission, Germany, Luxembourg