The European Commission says it wants to derive 46 percent of the European Union's total energy from electricity by 2040, double the current level, Report informs.
The Electrification Action Plan, unveiled by EU energy chief Dan Jorgensen on Friday, aims to reduce Europe's reliance on imported oil and gas while lowering energy costs for households and industry.
The Commission estimates that hitting the electrification target would cut oil demand by 40 percent and gas demand by 70 percent.
"We are still seeing that over half of the EU's energy consumption is made by imported fossil fuels," an EU official told journalists during a technical briefing on Thursday, pointing to the bloc's vulnerability to global energy shocks.
Since the escalation of the Middle East conflict, the EU has spent more than €50 billion extra on fossil fuel imports, the official added.
The plan targets industry, transport and buildings, with the latter accounting for around half of EU gas consumption.
It introduces new measures to accelerate heat pump deployment, expand charging infrastructure for electric vehicles and support industrial electrification.
The energy package also includes new measures on network charges aimed at making electricity grids more efficient by encouraging consumers, producers and grid operators to adapt their behavior.
"The aim of this proposal is to make sure that all system users, be they on the production or on the consumption side, have the right incentives available to help us manage our electricity system in the most cost-effective manner," an EU official said.