“Crucially, over the past years, the EU has managed to withstand critical risks to its security of energy supply, regain control over the energy market and prices, and accelerate the transition towards climate neutrality”. The European Commission has today published the State of the Energy Union Report 2024, which describes how the EU has managed “unprecedented challenges in the energy policy landscape” during its mandate, “equipping the EU – a statement reads – with a regulatory framework for pursuing the clean energy transition and laying the foundations for renewed economic growth and competitiveness”.
The document contains some key indicators. “In the first half of 2024, half of the EU’s electricity generation came from renewable sources”; “the share of Russian gas in EU imports dropped from 45% in 2021 to 18% by June 2024, while imports from trusted partners like Norway and the US have increased”; “we reduced gas demand between August 2022 and May 2024 by 138 billion cubic meters”; “energy prices are more stable and remain significantly below the peak levels of the energy crisis of 2022”. Also: “the EU’s greenhouse gas emissions fell by 32.5% from 1990 to 2022, while the EU economy has grown by around 67% in the same period”.