If the future is going to be electric, will energy be cheaper?

The electrification of the economy has many advantages, both for consumers and for the environment, but what do we mean when we talk about electrification?

Electrification is the process of replacing fossil fuels with electricity in all sectors. This is necessary to fight climate change and meet the EU's decarbonisation targets. To achieve this decarbonisation, we need to move forward on two fronts:

• energy production with renewable energies.
• the use of technologies with lower CO₂ emissions.

The generation of electricity from renewable sources will allow the price of electricity to not be conditioned to the use of gas or other fossil fuels or the payment for CO₂ emission rights, as they are sources free of polluting emissions. New large-scale energy storage systems are already being developed to make this transition to renewable energies a reality.

When the price of electricity is not affected by the import of fossil fuels or emission rights, there will be less volatility and prices may fall.

The advantages of demand electrification

A greater use of electricity by homes and companies, in addition to contributing to the reduction of polluting emissions, will allow us to move towards a new energy model in which consumers will have a more active role and will also find financial advantages.

Thanks to the development of technology and advances in digitalisation, self-consumption is being developed, which allows us to generate energy in our own homes, workplaces, schools, hospitals, etc. We will also make advances in increasingly efficient solutions to reduce consumption, such as aerothermal systems and efficient appliances.

More efficient consumption for savings on your bill

At Endesa we have a business line dedicated to promoting electrification: Endesa X. With EndesaX, we want to accompany the public, companies and cities in the transition towards this new energy model, with solutions ranging from self-generation to replacing technological solutions that use fossil fuels with more efficient electrical solutions.

We are also promoting electric mobility by installing public and private charging points to facilitate access for drivers across the country. In addition to being the best alternative due to their lower environmental impact, electric vehicles have lower maintenance costs than those of internal combustion cars.

Electric vehicles already cover the needs of the vast majority of our daily journeys, so they are a great alternative for the planet and for our personal finances.