The future energy bill for European industry, businesses and households is an electricity bill. Electrification presents perhaps the greatest opportunity to decrease reliance on fossil fuels and decarbonise end-uses. Unlocking the many benefits of electrification requires lowering electricity prices to improve competitiveness and make it more accessible to Europeans.

Louise Sunderland, Zsuzsanna Pató, Monika Morawiecka and Bram Claeys have identified eight priority actions to make electricity cheaper. The authors focus on driving down the costs of the electricity system and allocating costs efficiently between different groups and over time. All actions should be implemented immediately and impact in the short-, medium- and long-term.

Policymakers and regulators looking to drive down the cost of the electricity system can look to these eight actions to galvanise their efforts.

Read more detailed analysis on household electrification, the first of the eight priority actions, in this partner paper.