The European continent must accelerate the electrification of its economy to ensure its security and maintain its prosperity, estimates the director of the International Energy Agency (IEA), Fatih Birol, informs AFP.

“If we want to be prosperous, if we want to ensure our security, we must electrify our economies and, I’m sorry to say, we are far from that. Ten years ago, in Europe, the share of electricity in total energy was 20% (…). Europe is still at 20%, China at 32%,” argued the director of the IEA, Fatih Birol, on Wednesday, at a seminar organized in Stockholm, Sweden.

“We are entering the era of electricity and, in my opinion, Europe should be the leader. Or at least one of the leaders. I see the future of Europe as electric,” added Fatih Birol, according to Agerpres.

The European Union has recently faced setbacks in its efforts to electrify its economy. In December, the bloc abandoned its goal of banning the sale of new combustion-engine cars by 2035, bowing to pressure from the auto industry and Berlin, who said the time frame was too short. Another example of a difficult transition is the bankruptcy of Swedish battery maker Northvolt in March 2025. Considered the cornerstone of Europe’s efforts to catch up with Chinese electric vehicle battery makers, the company was forced to close, weighed down by a mountain of debt and production delays.

In a context marked by crises and conflicts, it is also crucial for countries to diversify their energy sources, according to the IEA chief. “Don’t put all your eggs in one basket. Diversify as much as possible. Not just one country, not just one trade route, not just one company,” said Fatih Birol.

According to the IEA director, Europe has made three major mistakes in its energy policies in recent decades: over-reliance on a single country, Russia, for its strategic natural gas supply; turning its back on nuclear power; and lagging behind, especially in the face of China, in the steady development of innovation in the renewable energy sector.

In the past five years, 85% of all nuclear power plants built worldwide have been built in China and Russia.

The International Energy Agency is the main energy advisory body of the 29 most developed countries. The agency was established in response to the first oil shock of 1973-1974, to coordinate the release of oil from reserve stocks.