Fortum Proposes Actions for EU to Electrify Industries and Build Hydrogen Economy

Energy company Fortum Oyj has released an EU White Paper detailing recommendations for the upcoming European Commission. The paper focuses on accelerating the direct and indirect electrification of industries and establishing Europe's hydrogen economy, which requires substantial amounts of low-carbon electricity.

Fortum highlights that the focus of major decarbonization efforts is shifting from the power sector to industries. Simultaneously, the company emphasizes the importance of competitiveness and security of supply. The proposals call for expedited actions to reduce industrial carbon emissions and dependency on fossil fuels and foreign supply chains.

The White Paper also suggests restoring market principles and regulatory frameworks to ensure stability for investments and innovations. Furthermore, Fortum advocates for investments in electrification and the hydrogen economy, as well as maintaining ambitious climate targets, such as a 90% emission reduction by 2040.

The company supports promoting a diverse mix of clean energy sources, including nuclear power, hydrogen, and renewables, to create a balanced and sustainable energy system for the future.