Brussels. The 'Energy Playbook' presented by E.ON in Brussels shows ways in which Europe can become climate neutral by 2050 and save costs of up to 1.5 trillion euros.

As Europe's largest distribution system operator and provider of sustainable customer solutions for around 50 million customers in Europe, E.ON draws on its extensive operational experience.

E.ON is convinced that the European energy transition can be significantly more cost-effective. The Energy Playbook demonstrates that prioritizing measures is a key lever for cost reduction. It would be possible to reduce the specific costs of the electricity system by around 20 percent in the long term - from 119 euros per megawatt-hour in 2023 to 95 euros per megawatt-hour in 2050. The study also emphasizes the importance of flexible and market-oriented approaches. It becomes clear that:

Electrification is the most cost-effective way to reduce emissions. Electrification of heat and transport is expected to increase EU electricity demand by 30 percent by 2035. Through optimized resource use and targeted investments, costs of over 1.5 trillion euros can be saved by 2050.

Timely expansion of networks and better synchronization with the expansion of renewable energy sources is crucial to enable cost-effective integration of solar and wind energy and meet the demand for electrification.

Digitization of the energy system is essential to increase demand flexibility and create an efficient, flexible renewable energy system. Successful digitization and flexibilization can help avoid around 240 gigawatts of reserve capacity, leading to annual savings of around 40 billion euros.

According to the E.ON study, all barriers to rapid electrification must be removed to achieve an affordable energy transition. For example, taxes and levies on electricity are significantly higher than on gas. Reducing them to the European minimum level would make electrification more attractive and reduce energy costs for consumers. According to the 'Energy Playbook,' total energy costs for all households in Europe could decrease by up to 40 percent.

Thomas Birr, Chief Strategy Officer at E.ON: 'Europe is now at a crossroads. With the Energy Playbook, we show that climate neutrality is not only possible but also economically advantageous. Together, we can now pave the way for a sustainable, carbon-neutral Europe by 2050. However, we must move away from planned approaches with detailed goals over decades and towards an agile, market-oriented, and pragmatic energy policy. At E.ON, we are leading the way in shaping a new energy system with a comprehensive program that brings together sustainability, security of supply, and affordability. This includes our extensive investments of 43 billion euros across Europe in energy transition infrastructure by 2028.'

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.

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