WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 160
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Electricity production
Electric vehicles (EVs)
Regional highlights
•
According to IEA, new electric car registrations reached
nearly 3.2 million in Europe, in 2023, increasing by almost
20% relative to 2022, but slowing down in some countries
in 2024.
•
In 2023, wind & solar combined accounted for 24% of all
electricity production in EU; the investment in renewables
generation totalled about €110 Bn, an increase of more
than 6% from the previous year.
•
There has been an increase in the sales share of European
countries, led by Norway at 95%, Sweden at 60%, the
Netherlands at 30%, France at 25%. While the sales share
for electric cars fell from 30% in 2022 to 25% in 2023.
•
•
Europe is one of the biggest markets after China, where
the electric light commercial vehicles (LCV) market leapt
by 60% to reach almost 150,000.
In February 2024, the European Investment Bank (EIB)
approved €1.6 Bn for new energy investment to scale
up renewable energy generation and strengthening
electricity distribution networks to enable increased use
of renewable energy.
•
Electricity generated from Nuclear energy produced
735.9 TWh and accounted for 19.3% of the EU electricity
generation in 2023.
•
European Commission adopted the net zero Industry
Act in June 2024, to bolster the manufacturing of clean
technologies, with the objective of meeting 40% of the EU’s
deployment needs by 2030 and reducing today’s reliance
on imports.
•
EU's gas imports from Russia decreased from 45% in
2021 to 18% in June 2024. In the first quarter of 2024, EU
imported most of its petroleum oils from the USA, Norway,
and Kazakhstan, and most of its natural gas from Norway
and Algeria.
4200
4041.3
3997.2
3899.4
4000
3884.2
3805.1
3200
3000
2019
2020
2021
2022
2023
Network
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In 2023, Europe’s investment in power grids reached € 55
Bn, with a greater share of spend on digitalization and
upgrading high-voltage transmission networks.
On 28 November 2023, the EU Commission launched a
Grid Action Plan, to modernise Europe’s electricity grid
and prepare for the renewables-based electrification of
the energy system.
•
In Europe, electric truck sales increased almost threefold in
2023 to reach more than 10,000 (>1.5% sales share).
Energy players
Power: Centrica, CEZ, E.ON, EDF, EDP, Enel, ENBW, ENGIE,
Fortum, Iberdrola, Naturgy, Ørsted, RWE, SSE, Uniper, Vattenfall
Oil and gas: BP, Eni, Equinor, Repsol, Shell, TotalEnergies
•
The Commission estimates that €584 Bn in investments are
necessary for the electricity grids in this decade
WEMO 2024
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