Transelectrica launches major projects...

Romanian electricity transmission system operator Transelectrica has launched two major infrastructure projects to...

Romania launches third CfD...

The Romanian Ministry of Energy, in cooperation with Transelectrica, the operator of the...

Montenegro: EPA clears two...

Montenegro’s Environmental Protection Agency (EPA) has decided that Unipan Green, a local company,...

Slovenia: Šoštanj thermal power...

At the end of September, the Šoštanj thermal power plant began an extensive...
Supported byClarion Energy
HomeSEE Energy NewsEU achieves record...

EU achieves record renewable energy milestone in 2024

According to Eurelectric, the association representing the European electricity sector, renewable energy sources accounted for 48% of the EU’s electricity generation in 2024, with nuclear energy contributing 24% and fossil fuels reaching a record low of 28%. Eurelectric hailed 2024 as a significant year for Europe’s electricity sector, noting that the growth in renewable energy led to a 59% reduction in emissions compared to 1990 levels, marking the cleanest electricity generation mix in the EU’s history.

The rise in renewable energy also resulted in a record 1,480 instances of negative electricity prices, with at least one bidding zone experiencing negative prices 17% of the time. The average day-ahead wholesale electricity price across the EU fell by 16% compared to 2023, dropping to 82 euros/MWh. However, there were price spikes in the last quarter of the year due to a combination of rising gas prices, high winter demand, reduced solar output, and low wind activity.

Eurelectric also reported that electricity demand remained subdued, increasing by less than 2% compared to 2023, but still staying below pre-crisis levels, largely due to weak industrial consumption. The association stressed the importance of prioritizing industrial electrification, emphasizing that the Clean Industrial Deal presents a key opportunity to promote electrification through measures like creating an electrification bank, establishing electrification-accelerated zones, and implementing de-risking mechanisms for long-term power purchase agreements.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Transelectrica launches major projects to strengthen Romania–Moldova power interconnection

Romanian electricity transmission system operator Transelectrica has launched two major infrastructure projects to strengthen the national grid and enhance interconnection with neighboring Moldova. The initiatives include the 400 kV Gadalin-Suceava overhead transmission line and the 400 kV Suceava-Balti interconnection...

Romania launches third CfD tender for 290 MW of onshore wind projects

The Romanian Ministry of Energy, in cooperation with Transelectrica, the operator of the Contracts for Difference (CfD) mechanism, has announced the third competitive tender for renewable energy producers under the CfD support scheme. The bidding process will take place...

Montenegro: EPA clears two Unipan Green solar projects without full environmental assessment

Montenegro’s Environmental Protection Agency (EPA) has decided that Unipan Green, a local company, will not need to conduct an environmental impact assessment for two planned solar power projects located south of Podgorica. The first project will have an installed capacity...
Supported byVirtu Energy
error: Content is protected !!