WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 180
MARKET
DATA
In 2023, total annual wind and photovoltaic generation in Belgium reached an all-time high (21.5 TWh or + 23%), accounting for 28.2% of the electricity mix, more than half (66.5%) of the energy
mix for 2023 comprised nuclear and gas-powered generation. A new quarter-hour record of 8,078 MW was set on 29 May 2023, corresponding to 93% of total consumption.
3%
3%
•
•
The main regulator for the energy industry in Belgium is the Commission
for Electricity and Gas Regulation (CREG), is responsible for ensuring
transparency and competition in the electricity and gas markets
In a recent, CREG approved Elia’s revised tariff proposal for the
2024-2027. This is part of their ongoing e昀昀orts to regulate and stabilize
energy prices in Belgium
•
Elia Group is a transmission system operator that owns and operates
high-voltage electricity transmission systems in Belgium and Germany
•
RESA is the main operator of electricity and gas distribution systems in the
province of Liège (Belgium)
GHG Emissions (million metric tons of CO2 equivalents)
2023 Electricity Mix
10%
150
116.6
112.4
106
Nuclear
Gas
8%
41%
O昀昀shore
100
Onshore
10%
50
Solar
0
2021
2022
Biogas
2023
25%
Others
Source: Statistical Review of World Energy 2024
•
RESA and the European Investment Bank (EIB) announced the signing of a
€190 Mn loan agreement needed to implement the 昀椀rst part of the
operator’s industrial plan for 2023-2026
•
RESA's industrial plan for 2023-2026 focuses on modernizing,
strengthening, and digitizing the regional electricity grid to enhance
supply security and reduce climate impact
•
The Belgian federal government launched the Energy Transition Fund call
for 2023, which is broadly able to support investment in three areas:
•
Renewable energy and biofuels
•
Nuclear energy
•
Supply security and network
Source: Elia Group
New Generation Development - (Solar in GW)
6%
20
15
10
2023 Electricity consumption by sector
16.7
Industry
25%
8.5
48%
Household
Services
5
Others
0
2023
2030
21%
Source: Enerdata
Solar
Source: IRENA 2024
S&P Global forecasted the EU carbon price in a range of €80.8-95.50/
mtCO2e across 2024.
•
In 2024, global carbon pricing revenues reached a record $104 billion.
•
There are now 75 carbon pricing instruments in operation worldwide.
Sources:
CO₂ emissions:
https://www.energyinst.org/statistical-review
Electricity Mix: Elia Group:
https://www.elia.be/en/news/press-releases/2024/01/20240108_electricity-mix-2023-belgian-renewable-generation-reaches-all-time-high-while-consumption
Electricity consumption by sector:
https://www.enerdata.net/estore/energy-market/belgium/
New Generation Capacity:
https://www.mckinsey.com/id/our-insights/how-to-power-indonesias-solar-pv-growth-opportunities
Carbon pricing:
https://www.worldbank.org/en/news/press-release/2024/05/21/global-carbon-pricing-revenues-top-a-record-100-billion
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/
energy-transition/122823-bearish-eu-carbon-prices-to-continue-in-2024-on-lower-power-emissions-oversupply
Other sources:
https://be.fi-group.com/en/creg-approves-electricity-tariffs-for-2024-2027/
https://www.elia.be/-/media/project/elia/shared/documents/press-releases/2024/20240108_electricity-mix-2023-belgian_en.pdf
https://www.eib.org/en/press/all/2024-030-belgium-eib-and-resa-work-together-for-an-inclusive-energy-transition
https://www.deloitte.com/be/en/services/tax/blogs/belgian-federal-government-launches-energy-transition-fund-call-for-2023.html
New Generation Development - (Wind in GW)
CO2 pricing (US$/tCO2e)
96.3
10.2
15
100
86.5
61.3
10
5.5
50
5
0
2023
Source: IRENA 2024
0
2030
Wind
2022
Source: Worldbank
2023
2024
WEMO 2024
•
180
Belgium
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