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Europe aims to double electricity use by 2040

Europe aims to double electricity use by 2040

The European Commission plans to increase the share of electricity in energy consumption to 46% by 2040, up from 23% currently, with the aim of reducing dependence on oil and gas imports. The strategy includes boosting the use of electric vehicles, expanding heat pumps, and electrifying industrial processes, along with significant investments in modernizing European electricity grids. This is expected to help cut the European Union's fossil fuel import bill by €260 billion annually by 2040.

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