Electrification can make a major contribution to reducing industrial CO2 emissions, but only if sufficiently cheap renewable power is used. The Dutch Climate Agreement gives a target price for offshore wind of “€ 30-40 per MWh in 2030 and substantially less in 2050”. This study examines how realisation of electrification potential in industry is affected by the price of offshore wind power. With this information, a target price for offshore wind can be more precisely specified. Both direct and indirect electrification via green hydrogen are investigated, with no subsidies assumed.