Electricity in EU in 2023/2024

In the EU, the majority of electricity consumed comes from low-carbon sources, representing over 73% of the total. Within this category, nuclear power stands out as a significant contributor, accounting for almost a quarter of the electricity consumed. Wind energy follows closely, generating nearly 19% of the electricity, with hydropower contributing just over 17%. Solar power also plays a role, providing nearly 10% of the electricity. On the other hand, fossil fuels account for just over 24% of electricity consumption, with gas and coal making up the bulk at around 13% and 10% respectively. Biofuels, while part of the low-carbon group, only account for a small fraction, close to 4%, in the overall energy mix. This balanced yet predominantly clean energy landscape helps the EU reduce its carbon footprint significantly.

Suggestions

To further bolster its low-carbon electricity generation, the EU can focus on expanding its existing capacities in nuclear and wind energy, given their already substantial role in the electricity mix. By exploring successful models from similar countries, the EU can achieve further advancements in clean energy technology and implementation. France, for example, derives a significant portion of its electricity from nuclear power, with 67%, highlighting the potential for nuclear expansion. Similarly, countries like Denmark have shown outstanding results with wind energy, sourcing more than half of their electricity from wind power. These benchmarks underscore the importance of investing in these thriving low-carbon technologies and learning from nations with similar socio-economic frameworks. Additionally, the EU can benefit from increasing solar energy generation, following examples set by countries like Greece, where solar accounts for over 20% of the electricity mix.

History

Historically, the EU has experienced various shifts in its low-carbon electricity generation landscape. In the early 1980s, nuclear power saw substantial growth, becoming a cornerstone of the EU's clean energy strategy with significant increases like 80.1 TWh in 1981 alone. However, the past two decades have experienced fluctuating trends, including detrimental declines like the notable 122.5 TWh decrease in nuclear power output in 2022. Conversely, hydropower has seen both highs and lows. Despite a few negative years, such as 2022 with a 72.1 TWh drop, 2023/2024 has shown positive growth in hydroelectric generation by a noteworthy 119 TWh. Wind energy has consistently grown, with particular highlights such as the 50.8 TWh increase in 2023, and solar energy has similarly surged with a significant rise of 47.1 TWh in 2022. These trends indicate the EU's commitment to transitioning towards a sustainable electricity mix, largely dominated by nuclear, wind, and solar power, marking a promising direction for future clean energy endeavors.

Electricity Imports and Exports

Balance of Trade

Data Sources