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Market Chatter: EU Said to Eye New 2040 Electrification Goal to Cut Power Costs, Boost Clean Energy Sector

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The European Union is looking to set a new electrification target by 2040 to help reduce reliance on fossil fuels, lower energy costs and bolster the region's clean energy technology sector, Bloomberg News reported Thursday, citing a draft proposal it reviewed.

The news outlet said the target will be introduced in a European Commission policy plan scheduled for release on July 17, 2026, with regulators planning to integrate the goal into draft legislation for the post-2030 energy framework slated for the fourth quarter of 2026.

The European Commission did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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