WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 121
Electricity consumption is not
rising as predicted in Europe
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As a result, spot electricity prices were negative on certain days
and a few nuclear power plants were shut down (for nuclear
fuel savings) because they were not needed on the grid.
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FIGURE 2
Energy transition perspective
If this situation persists, the return on investment for the
construction of new nuclear power plants will deteriorate.
The non-growth in electricity consumption and the stability of
the penetration rate of electricity consumption in total energy
consumption (see figure 3) reflect a significant delay in achieving
the objectives of the energy transition (see figure 2).
For example, certain industrial sectors could be decarbonized
by using electricity instead of gas or coal (in ovens, for example).
However, this requires heavy investments that manufacturers
are hesitant to decide on in periods of low growth and low
energy prices.
Final energy consumption
Primary consumption of natural gas
Primary oil consumption
Primary coal consumption
0
10
Expected decline 2012-2028
20
30
40
Expected decline 2012-2023
50
60
70
Reduction achieved 2012-2022
80
90
WEMO 2024
This is, theoretically, also true for wind and solar farms which
are, like nuclear electricity, very capital-intensive electricity
generation technologies. However, these renewable energies
often benefit from subsidies or guaranteed sales prices.
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