The year 2024 set new records for the EU power sector, with emissions dropping thanks to increased renewables, according to data from Eurelectric, the trade body of the European power sector.
“Emissions were cut by 59% compared to 1990 levels thanks to higher renewables. As a result, the EU achieved the cleanest power generation mix ever,” the Eurelectric said in a statement on Thursday.
“Negative prices broke another record, occurring 1,480 times,” the statement added.
The average EU day-ahead wholesale electricity price declined by 16% compared to 2023, with some notable exceptions in the final quarter, it added.
EU power sector emissions fell 13% in 2024, reaching a record low, the data showed. “Renewables contributed 48% of the EU power generation mix, followed by nuclear at 24% and fossil fuels at 28% – the lowest share ever,” it added. While nuclear remained the top power source, wind maintained its lead over natural gas.
Commenting on the report, Cillian O’Donoghue, policy director at Eurelectric said that the data reaffirms the importance of investing in renewable energy as the key for a more competitive and decarbonized economy.
However, he added “it must be complemented by more firm and flexible capacity to balance their variability, limit reliance on costly fossil fuels and contain price spikes.”
“Electrification remains the low-hanging fruit to decarbonize the EU,” he added.
