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European Commission Launches Plan to Boost Economy Electrification
The European Commission has launched a plan to boost the electrification of the European economy in order to reduce dependence on fossil fuel imports and increase the share of electricity generated from clean sources, aiming to raise it from 23% to 46% by 2040. The plan includes reforming the carbon emission trading system and providing more than 100 billion euros to support decarbonization in industry, as well as improving electricity grids and advancing clean energy technologies. The strategy aims to cut the fossil fuel import bill by 260 billion euros annually, while enhancing energy security and creating new job opportunities in the manufacturing, transportation, and building sectors.
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