Since this year, the US and Israel have launched a war against Iran, causing oil and gas prices to skyrocket in Europe, which is highly dependent on energy imports. A draft European Commission proposal shows that the EU is planning to introduce a series of policies and financing plans to push the EU to reduce its dependence on oil and gas and accelerate the electrification transformation of the EU economy. According to reports, this draft will be officially announced by the European Commission on July 17. According to the draft, the EU plans to set a target. By 2040, at least a certain percentage of the EU's overall economy's energy consumption must come from electricity. The draft is currently still being prepared, and no specific proportions have been specified. Accelerating the transition to electrification means the EU will drive the transition from gasoline and diesel cars to electric vehicles, allow households to use electrically driven heat pumps to replace gas boilers, and electrify industrial processes — for example, replacing fossil fuel furnaces with electric ones.

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