Europe’s journey towards a cleaner energy future reached a significant milestone in the first half of 2024, with renewables accounting for over 50% of all power generation and nuclear energy maintaining a stable share of 24%. This remarkable achievement is highlighted in the latest data from Eurelectric’s Electricity Data Platform (ELDA). However, the challenge of low power demand persists, influenced by sluggish economic growth, deindustrialization, and mild weather conditions. Addressing this demand issue is crucial to sustaining investments in clean energy generation.
The decarbonization of Europe’s power sector is accelerating at an unprecedented rate. According to Eurelectric’s ELDA, 74% of electricity produced in the EU in the first half of 2024 came from renewable and low-carbon sources, a notable increase from the 68% recorded in 2023. This surge is primarily driven by a significant influx of renewables into the grid and the stabilization of the nuclear fleet.
"The pace of change is impressive. These figures document that the decarbonization efforts of electricity companies are years ahead of any other sector," stated Kristian Ruby, Secretary General of Eurelectric.
Despite the positive trends in power supply, electricity demand tells a different story. In the first half of 2023, power demand in the EU decreased by 3.4% compared to the same period in 2022. This decline continued into 2024, with demand 2.6% lower than in the first half 2022. Contributing factors include industry relocation, energy efficiency measures, and slow economic growth.
“Years of stagnation in electricity demand have now become a regular decline. Policymakers must urgently support the uptake of electricity to provide the necessary investment signals for clean generation," Ruby added.
Eurelectric urges the incoming Commission to introduce an Electrification Action Plan within its first 100 days. This plan should set a 35% electrification target for 2030 and incorporate a clear electrification indicator in the national energy and climate plans (NECPs) of EU countries. These measures are essential to track and promote progress on the ground. Failure to act could jeopardize the EU’s climate goals, lead to renewable energy curtailment, and slow down investments in the energy transition.
The ELDA platform, powered by Eurelectric, aggregates over 16 million data points annually from independent sources, including ENTSO-E and EU official statistics.
