Electricity in EU in 2023/2024

In the year 2023/2024, the European Union's electricity consumption is predominantly clean, with more than three-quarters coming from low-carbon sources. Specifically, low-carbon energy sources account for approximately 73% of the total electricity consumed, demonstrating the EU's commitment to sustainable power generation. The major contributors to this low-carbon mix include nuclear energy at around 24%, wind power at nearly 19%, and hydropower at close to 17%. Solar energy and biofuels also make significant contributions, though on a smaller scale, with solar approaching 10% and biofuels at around 4%. In contrast, fossil fuels, despite their detrimental effects on the environment, still account for about 24% of the electricity mix, with gas at 13% and coal at a little over 10%.

Suggestions

To further increase its low-carbon electricity generation, the EU can focus on expanding its existing nuclear and wind power infrastructure. These sources are already making large contributions and have proven their capability. Learning from the successes of countries such as France, which generates a substantial 67% of its electricity from nuclear, and Denmark, with wind providing an impressive 61%, the EU can adopt similar strategies. For instance, Slovakia and Ukraine also demonstrate high nuclear reliance at 60% and 55%, respectively, further illustrating the viability of nuclear energy. Additionally, the EU can look to Uruguay and Germany for advancements in wind energy, where wind provides 36% and 31% of the electricity in these countries, respectively. Implementing best practices from these nations can guide the EU in achieving higher rates of low-carbon electricity.

History

The history of low-carbon electricity in the EU reveals significant milestones and fluctuations. During the 1980s, there were notable increases in nuclear power generation, with an additional 80 TWh in 1981, 55 TWh in 1983, followed by leaps of over 100 TWh in 1984 and 1985. However, recent years have seen considerable volatility, particularly for nuclear energy. For instance, there was a notable decrease of 123 TWh in nuclear electricity generation in 2022, preceded by a drop of 83 TWh in 2020. On the brighter side, hydroelectric power has shown resilience, with a spike of almost 114 TWh in 2023/2024. Wind energy has steadily increased, with a noteworthy increase of 46 TWh in 2019 and almost 51 TWh in 2023. Solar energy also saw improvements, with an uptick of 47 TWh in 2022, indicating a promising trend in diversifying clean energy sources. This history underscores the importance of continuous investment and innovation in the low-carbon energy sector to maintain and improve sustainable electricity generation levels in the EU.

Electricity Imports and Exports

Balance of Trade

Data Sources