Summary

The head of the International Energy Agency has warned Europe made a “major mistake” by failing to end its economy reliance on imported fossil fuels quickly enough since the 2022 energy crunch. Fatih Birol said Europe’s low electrification rate, electricity’s share of the energy consumed in the EU, of roughly 23 per cent is holding back its competitiveness and economic “sovereignty”. Speaking to the Financial Times, Birol said: “This is in my view a major mistake for Europe.

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