Hutch, with the notable exception of Sweden (and much later, Poland) Europe has been a massive copper importer.
The metal savings (field wiring) at the higher voltage were noted many generations ago.
The weird thing is the decision to go to 50 Hertz. This, along with the voltage norm, was deliberately selected to keep American (NEMA standard) products out of European markets -- all the way back in the 19th Century.
This push is still on -- with Paris -- as ever -- leading the way.
[The primary reason for the green-yellow earthing conductor in all European devices is to thwart American solid green grounding conductor products. All other wire color norms were likewise selected to be not-American standard.]
The kicker with 50 Hertz power is that all transformers and motors have to be built larger to handle the same amount of power. It does save on radiated energy. (power company distribution losses that don't show up on retail power bills)
So 50 Hertz made more economic sense for America (very large) whereas 60 Hertz made more economic sense for Europe. (almost tiny by comparison) Such is mercantile politics... and the accidents of history.
