According to the European Commission’s report on the State of the Energy Union in 2023, EU countries have dramatically reduced their dependence on Russian fossil fuels over the past year. Especially after the invasion of Ukraine, the import of coal, oil and gas decreased and continues to increase. reduce The report shows that the EU responded collectively and effectively to Russia’s aggression in Ukraine and its use of energy carriers as weapons.

Oil imports fell by 90%. Gas imports were also cut from 155 billion cubic meters in 2021 to about 80 billion cubic meters in 2022 and to about 40-45 billion cubic meters in 2023.

Europe is ready to survive the second winter without dependence on Russian gas. According to Gas Infrastructure Europe data, at the EU level on October 23, the degree of gas storage reached an average of 98.63%.

In second place in the top is Romania with a degree of filling of 101.71%, after Portugal with 105.3% and Spain with 100.41%.

Russian gas is gradually being replaced by Qatari or American gas.

Figures from the State of the Energy Union report

• Net greenhouse gas emissions in the EU are reduced by around 3% in 2022, reaching a 32.5% reduction compared to 1990 levels;
• The EU reduced gas demand by more than 18% compared to the last five years, saving about 53 billion cubic meters of gas;
• Gas storages were 95% full before the winter of 2022-2023 and now exceed 98% before the next winter;
• The EU Energy Platform organized three rounds of joint gas procurement, gathering demand for 44.75 billion cubic meters and matching it with offers for supply of 52 billion cubic meters;
• 2022 was a record year for new solar PV installations (+ 41 GW), a 60% increase over 2021 (+ 26 GW). The capacity of new onshore and offshore wind farms was 45% higher than in 2021;
• In 2022, 39% of electricity was generated from renewable sources, and in May wind and solar power overtook fossil fuels in EU electricity production for the first time;
• Legislative targets for a minimum share of 42.5% of energy from renewable sources in the EU by 2030 were agreed, as well as an ambitious goal of reaching 45%. Energy efficiency targets have also been increased to reduce final energy consumption by 11.7% by 2030.

Gas prices are falling

While gas prices peaked in August 2022 at €294/MWh, they fell to an average of €44/MWh from January to June 2023, the report said.

Electricity prices peaked in August 2022 at €474/MWh, but fell to an average of €107/MWh from January to June 2023.

The share of energy from renewable sources in gross final energy consumption reached 21.8% in 2021. With an average annual growth of 0.67 percentage points since 2010, reaching the EU’s new 2030 target of 42.5% will require much faster growth in the coming years. Greenhouse gas emissions continue to decline steadily each year, but to meet our 2030 targets, the pace must accelerate and nearly triple.

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