The European Commission today proposed an “achievable” 30% energy efficiency target for 2030.

The new target means EU nations will have to strive to make higher energy savings compared with 2007 levels.

The Commission expects the proposed target to create new opportunities for businesses, affordable bills for consumers as well as increase energy security through a cut in natural gas imports.

It is the last element of a three-part climate policy package for 2030. In January, the Commission called for a 40% cut in carbon emissions and a 27% renewable energy target.

Günther H. Oettinger, Vice President of the EU Commission responsible for energy said: “Our proposal is the basis to drive the EU towards increased security of supply, innovation and sustainability, all in an affordable way. It is ambitious and at the same time it is realistic.”

The European Council is scheduled to make a final decision on the new climate and energy policy framework in October this year.