According to the latest report from Ember, a British energy think tank, fossil fuel power generation in Europe may drop by 20% this year.

(Bloomberg file photo)

[Financial Channel/Comprehensive Report] According to the latest report from the British energy think tank Ember, as the EU is committed to transitioning to renewable energy, fossil fuel power generation in Europe may drop by 20% this year.

According to foreign reports, after the Russo-Ukraine war, Russia cut the supply of natural gas to Europe, prompting a surge in energy costs, and European countries have been scrambling to find alternative energy sources since then.

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This has led to a greater reliance on fossil fuels, and coal power in Europe was expected to rebound sharply last year, but this did not turn out to be the case. The Ember report shows that in 2022, the share of coal-fired power generation in the EU will increase by 1.5 percentage points compared with 2021. 16% of power generation.

The energy crisis in 2022 will have only a slight impact on coal power and will trigger a huge wave of support for renewable energy, the Ember report's lead author Dave Jones said in a press release. The worries are all gone now.

Nuclear power generation in Europe's nuclear powerhouse France has plummeted in 2022 as dozens of nuclear reactors are shut down for repairs or maintenance.

Meanwhile, a historic drought in continental Europe last year saw hydropower generation fall to its lowest level in 20 years.

According to the Ember report, compared with 2021, hydro and nuclear power generation will be reduced by 185 TWh in 2022, accounting for about 7% of the total electricity generation.

However, solar and wind power have increased significantly, accounting for 22% of EU electricity generation last year, a record high and surpassing natural gas for the first time.

According to Ember, the lower-than-expected increase in coal in 2022 demonstrates the EU's commitment to transitioning to renewable energy and phasing out coal.

Ember expects nuclear generation to be relatively flat in 2023 as the continued phase-out of German reactors offsets the return of French reactors; hydropower will add about 40 TWh this year.

The think tank also said that high electricity costs reduced energy demand by around 8% in the fourth quarter of 2022 compared to the same period a year earlier.

If the trend continues, Ember predicts that fossil fuel power generation in Europe could drop by 20% this year, with natural gas generating the fastest decline.

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