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Background note on the natural gas supply-demand balance of the European Union in 2023
…was developed to inform the discussions at the Special IEA Ministerial on Gas Markets and Supply Security on 15 February 2023. It assesses the latest developments in European and global natural gas markets, taking into account the impacts of the energy crisis triggered by Russia’s invasion of Ukraine in 2022. The analysis examines the key factors affecting the natural gas supply-demand balance of the European Union – and the risks that could lead to a supply-demand gap emerging. And it highlights the measures that can reduce natural gas demand in a structural manner to mitigate the European Union…
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A 10-Point Plan to Reduce the European Union’s Reliance on Russian Natural Gas
Measures implemented this year could bring down gas imports from Russia by over one-third, with additional temporary options to deepen these cuts to well over half while still lowering emissions.Europe’s reliance on imported natural gas from Russia has again been thrown into sharp relief by Russia’s invasion of Ukraine on 24 February. In 2021, the European Union imported an average of over 380 million cubic metres (mcm) per day of gas by pipeline from Russia, or around 140 billion cubic metres (bcm) for the year as a whole. As well as that, around 15 bcm was delivered in…
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Is renewable energy capacity in the European Union making windfall profits from high wholesale prices?
Renewables 2022 This report forms a component of Chapter 4 of Renewables 2022 and addresses a key question in renewable energy markets. Russia’s invasion of Ukraine triggered a global energy crisis, leading to sharp increases in oil, natural gas and coal prices. As a result, electricity prices in Europe have risen drastically because natural gas-fuelled plants remain the price-setter in the wholesale market. Furthermore, high fossil fuel prices have resulted in windfall profits for some energy companies. In fact, the profits of major oil, gas, coal and refinery companies in the first half of 2022 more than…
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Will new PV manufacturing policies in the United States, India and the European Union create global PV supply diversification?
…relatively low energy costs and labour productivity make China the most competitive solar module manufacturer worldwide. Higher investment costs in India are the primary reason for the cost differential with China, while higher overhead and labour costs makes US PV manufacturing not as competitive. In Europe, rising energy prices following Russia’s invasion of Ukraine widened the cost gap with China. Today, EU industrial energy prices are more than triple those of China, India and the United States. Manufacturing policies in India and the United States Recent policy actions in India and the United States aim to increase the competitiveness…
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How to Avoid Gas Shortages in the European Union in 2023
A practical set of actions to close a potential supply-demand gap European and global natural gas markets are not yet out of the danger created by Russia’s cuts to pipeline deliveries of gas. If gas exports from Russia drop to zero and China’s LNG imports rebound to 2021 levels, there is a risk of a shortfall gas supplies in 2023. Measures already taken by EU governments on energy efficiency, renewables and heat pumps should help reduce the size of this potential natural gas supply-demand gap in 2023. A recovery in nuclear and hydropower output from their…
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Clean Energy Transitions Programme 2023
Annual report 2023 The Clean Energy Transitions Programme (CETP) is the IEA’s flagship initiative for accelerating progress toward a global net zero energy system. Launched at the 2017 IEA Ministerial to leverage the Agency’s expertise, insights and influence, the programme has provided world-class analysis, technical assistance and capacity building to support the most ambitious reorientation of the world’s energy systems this century. The CETP’s work is structured across three pillars of activity, with a particular focus on emerging markets and developing economies. The first of these focuses on supporting emerging and developing countries to establish…
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Sustainable Transport Policy for Armenia: A Roadmap
As a part of the EU4Energy Programme, the Armenia Energy Policy Roadmap on Sustainable Transport presents a comprehensive, evidence-based framework for transforming the country’s mobility system into a sustainable and efficient transport system. The strategy seeks to deliver significant reductions in CO₂ emissions while strengthening regional connectivity, fostering economic development, and enhancing energy security. While Armenia has made notable progress in rolling out electric vehicles and electrifying its rail network, it still struggles with a high dependence on imported fossil fuels, a lack of data transparency and weak co-ordination among government agencies. This roadmap is structured to…
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European Union 2020
Energy Policy Review The International Energy Agency (IEA) regularly conducts in-depth peer reviews of the energy policies of its member countries. This process supports energy policy development and encourages the exchange of international best practices and experience. This report on the European Union (EU) discusses the energy challenges facing the continent and recommends possible solutions to help it achieve a secure and sustainable energy future.
The European Commission under President Ursula von der Leyen took office in late 2019 with an ambitious programme for the five years to come. The centrepiece initiative is the European Green Deal, which aims… -
Is the European Union on track to meet its REPowerEU goals?
Renewables 2022 This report forms a component of Chapter 4 of Renewables 2022 and addresses a key question in renewable energy markets. The REPowerEU plan’s aim is to rapidly reduce dependence on Russian fossil fuels by 2027, and the European Commission estimates that this will require significant expansion of renewable energy shares in the electricity, transport and heating sectors. Although the use of renewable energy does increase in all three of these sectors by 2027 in our main-case forecast, in none of them are levels consistent with the REPowerEU plan. While the share of renewables in electricity expands…
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Coping with the Crisis: Increasing Resilience in Small Businesses in Europe through Energy Efficiency
Proposed Energy Saving Strategies Today’s global energy crisis has driven up the cost of fuels and electricity, creating shortages and hurting consumers, businesses and entire economies. Small to medium enterprises (SMEs) are some of the most exposed economic players, lacking the margins, economies of scale, and support staff that allow larger companies to mitigate the impact of the crisis. At the same time, SMEs are the backbone of economies around the world, making their survival essential.To help smaller businesses overcome these perilous challenges and to sustain European economies, the European Commission and the International Energy Agency have teamed…