In a significant boost for the renewables industry, chief executives from all major power companies in Europe have committed to achieving a carbon-neutral electricity mix in the EU “well before” 2050 — while accelerating both digitalisation and the electrification of the heating, transport and industrial sectors.

The Vision for the European Electricity Industry — unveiled in Brussels on Wednesday morning by Europe’s electricity trade association, Eurelectric — was unanimously approved by “engaged company CEOs and industry representatives across Europe”.