Investing in the electrification of transport and heavy industry is the right energy strategy if the European Union wants to preserve its economic sovereignty and revive struggling industries, International Energy Agency (IEA) chief Fatih Birol told Euronews.
“We can generate electricity from renewables, nuclear power and perhaps natural gas, and we should electrify our economies as much as possible,” Birol said, arguing for a shift away from fossil fuels towards an electricity-powered economy.
His comments come as the EU faces a deepening energy crisis, worsened by the US-led conflict with Iran and the closure of the Strait of Hormuz, a key shipping route that handles around 20% of global oil and gas supplies.
The disruption has pushed up energy bills for households and intensified pressure on heavy industry, which was already struggling with high electricity prices and weakening competitiveness. Manufacturers now warn that soaring production costs could force widespread shutdowns.
In line with the IEA’s recommendations, EU leaders have increasingly backed investment in electric vehicles (EVs), heat pumps and the replacement of fossil-fuel-powered blast furnaces with electric arc furnaces in heavy industry. The aim is to reduce reliance on fossil fuels, which still account for nearly 60% of the bloc’s energy imports.
