The Plan sets an indicative target for electricity’s share of final energy consumption to reach 46% by 2040 — double today’s share. The ETS review would reshape the post-2030 carbon market and direct significantly more revenues towards investment in decarbonizing energy-intensive industries, whilst, controversially, allowing polluting emission permits for a longer period. “Doubling Europe’s electrification rate by 2040 would reshape the continent’s economy, but reaching that goal will require far more than an indicative target. “The ETS review must reinforce Europe’s shift to clean electrification. Otherwise, Europe risks weakening the very business case for clean electrification that the Plan is intended to strengthen.