Wind power overtook gas to become the EU’s second largest source of electricity behind nuclear, and by the first half of 2024 renewables generated 50% of electricity in the EU (Nuclear around 25%).
In 2022 the EU’s primary energy consumption renewed its downward trend, falling by 4.1%. Efforts will need to be stepped up further for the EU to meet the 11.7% final energy consumption reduction target by 2030.
To reach climate neutrality by 2050, the EU has set an intermediate 2030 target of at least 55% reduction of net GHGs compared to 1990 and the European Commission has recommended an intermediate 2040 climate target of 90%. The EU’s greenhouse gas emissions (in 2022) have already fallen by 32.55% compared with 1990.
Imports of Russian gas (pipeline & LNG) dropped from a 45% share of overall EU gas imports in 2021 to only 18% in the first half of 2024 (from 150.2 to 25.4 bcm)
Strengthened efforts are needed to address high energy prices. This is key to improve the competitiveness of EU industry, and to accelerate investments in Europe’s integrated infrastructure networks, which are essential for the electrification of the European economy.
EU electricity industrial retail prices are still 2 to 3 times higher than in the U.S. (2021 to 2023) while historically they were 1.5- 2 times higher than the US prices. Gas prices are 3 to 6 times higher than those in the U.S., while historically they were 2-3 times higher. Competitiveness will continue to be a key objective in the years to come, with the European Council having called for a new European Competitiveness Deal.
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Ninth report on the state of the energy union was published on 11 September 2024. Overview can be found [here](https://energy.ec.europa.eu/topics/energy-strategy/energy-union/ninth-report-state-energy-union_en) and full 21 page report can be found [here](https://energy.ec.europa.eu/publications/state-energy-union-report-2024_en).
**Main highlights**
Wind power overtook gas to become the EU’s second largest source of electricity behind nuclear, and by the first half of 2024 renewables generated 50% of electricity in the EU (Nuclear around 25%).
In 2022 the EU’s primary energy consumption renewed its downward trend, falling by 4.1%. Efforts will need to be stepped up further for the EU to meet the 11.7% final energy consumption reduction target by 2030.
To reach climate neutrality by 2050, the EU has set an intermediate 2030 target of at least 55% reduction of net GHGs compared to 1990 and the European Commission has recommended an intermediate 2040 climate target of 90%. The EU’s greenhouse gas emissions (in 2022) have already fallen by 32.55% compared with 1990.
Imports of Russian gas (pipeline & LNG) dropped from a 45% share of overall EU gas imports in 2021 to only 18% in the first half of 2024 (from 150.2 to 25.4 bcm)
Strengthened efforts are needed to address high energy prices. This is key to improve the competitiveness of EU industry, and to accelerate investments in Europe’s integrated infrastructure networks, which are essential for the electrification of the European economy.
EU electricity industrial retail prices are still 2 to 3 times higher than in the U.S. (2021 to 2023) while historically they were 1.5- 2 times higher than the US prices. Gas prices are 3 to 6 times higher than those in the U.S., while historically they were 2-3 times higher. Competitiveness will continue to be a key objective in the years to come, with the European Council having called for a new European Competitiveness Deal.
!ping EUROPE&ECO