The European Commission unveiled an Electrification Action Plan targeting a 46% share of total energy consumption by 2040 to slash fossil fuel reliance. This shift is estimated to replace two-thirds of EU gas consumption and potentially save 200 billion euros on energy import bills. Meanwhile, the EU is considering delaying fines for methane emission violations following U.S. pressure, though energy companies continue to push for more comprehensive legislative rewrites regarding gas leaks.
Brussels may postpone financial penalties for methane leaks and flaring as energy firms and Washington raise concerns over gas supply security.
Read the full storyA new action plan targets increasing electricity's share of energy consumption to 46% to bolster security and cut oil imports.
The European Commission will unveil a 2040 electrification plan on July 17, aiming to replace two-thirds of gas consumption and save 200 billion euros in imports.