The closure of the Strait of Hormuz has highlighted that Europe’s continued dependence on fossil fuel imports comes with a geopolitical price premium. Today, imported fossil fuels account for around 40 percent of Europe’s energy demand, at an estimated annual cost of approximately €250 billion ($293 billion).
A new report, “Charging Ahead — A Roadmap for an Electrified, Competitive and Resilient European Energy System,” published by Copenhagen Infrastructure Partners (CIP) outlines how accelerated electrification and a renewable-led energy system can fundamentally strengthen Europe’s energy security and competitiveness, while lowering power prices and reducing emissions. The report also outlines actions needed from legislators and decision makers to achieve this goal.
Together with Ea Energianalyse, CIP has built an integrated energy system model to analyze how Europe’s energy system could evolve toward 2050 under different scenarios, outlining differen
