First half of 2024 marked by renewables generating majority of Europe's electricity

Europe's power generation is decarbonizing at an unprecedented pace. In the first half of 2024, 74% of electricity produced in the EU came from renewable and low-carbon sources, according to Eurelectric’s Electricity Data Platform (ELDA).

According to Eurelectric, this is a significant increase compared to the 68% share in 2023. The main reasons behind this remarkable result were an unprecedented influx of renewables on the grid combined with the stabilisation of the nuclear fleet.

Renewables alone accounted for over 50% of all power generation, while nuclear provided a stable 24%. This shift results from an unprecedented influx of renewables and the stabilization of the nuclear fleet. However, power demand remains low due to sluggish growth, deindustrialization, and mild weather. Stimulating electricity demand is essential to ensure continued investments in clean energy generation.

“The pace of change is impressive. These figures document that the decarbonisation efforts of electricity companies are years ahead of any other sector,” said Kristian Ruby, Secretary General of Eurelectric.

Challenges in electricity demand

While supply-side achievements are notable, electricity demand tells a different story. In the first half of 2023, power demand in the EU decreased by 3.4% compared to the same period in 2022 and has continued to remain low in 2024, being 2.6% lower than in H1 2022. Factors contributing to this decline include industry relocating abroad, warmer temperatures, energy savings, and slow economic

“Years of stagnation in electricity demand have now turned into a regular decline. Policymakers must urgently support the uptake of electricity to provide the necessary investment signals for clean generation,” added Kristian Ruby.

Eurelectric’s call to action

To counteract the decline in electricity demand, Eurelectric is urging the new Commission to propose an Electrification Action Plan within the first 100 days of its mandate. This plan should include a 35% indicative target for 2030 and the introduction of a clear electrification indicator in the national energy and climate plans (NECPs) of EU countries to monitor and deliver progress.

“Inaction could result in missing the EU climate targets, curtailment of renewable production, and slowing down investments in the leading sector of the energy transition,” warned Ruby.