Five actions to unlock electrification
Eurelectric’s letter proposes targeted measures to remove persistent barriers to investment, finance, and public awareness. The recommendations call on policymakers to:
- Institutionalise the pilot auction of the Industrial Decarbonisation Bank as a permanent financing instrument
- Promote ‘electrification acceleration areas’ with faster grid connection and permitting
- Enable social leasing for electrification purposes across the EU
- Include electrification monitoring and forecasts in a revised EU Governance legislation
- Develop information hubs on electrification solutions and funding opportunities
Together, these actions aim to close the financing gap, support industrial transformation, and boost investor confidence in Europe’s energy transition.
A call to match ambition with action
The European Commission has made electrification a key pillar of its climate and industrial policies. As Commission President Ursula von der Leyen reminded us in her latest State of the European Union speech, “we know what brings prices down: clean homegrown energy. The future is electric.”
Yet, electricity’s share in final energy consumption has stagnated at around 23% for more than a decade – far behind global competitors like China, which has already surpassed the EU’s 2030 target of 32%.
Powering Europe’s competitiveness
Eurelectric’s proposals offer a practical path to overcome financing gaps, strengthen investor confidence, and deliver a secure, affordable, and decarbonised energy system for all Europeans.