Putin’s Gas Blackmail in Europe a Failure (for now)

January 7, 2023

EuroNews:

Record growth in renewable energy helped the EU avoid billions of euros in gas costs during the Ukraine war, according to a new study. 

Research by think tanks E3G and Ember showed that record-breaking wind and solar production meant the European Union (EU) averted €11 billion in extra gas costs since the Russian invasion began in February. 

“Wind and solar are already helping European citizens,” says Dr Chris Rosslowe, senior analyst at Ember, an independent energy think tank. “But the future potential is even greater.”

A quarter of the EU’s electricity was generated by wind and solar from March to September – its highest-ever level, according to the report. But the bloc still spent an estimated €82 billion on fossil gas during this period, which supplied 20% of its electricity.

It also found that nineteen EU member states hit wind and solar records, including France (14%), Italy (20%), Poland (17%) and Spain (35%).

This growth in renewables meant more than eight billion cubic metres of gas was saved. 

AlJazeera:

The Ukraine war has made the security and price stability of domestically produced renewable energy so attractive to governments that it will become the world’s top source of electricity in the next three years, according to The International Energy Agency.

The world will build 2,400 gigawatts (GW) of new generating capacity mainly from solar and wind energy in the next five years, equal to China’s entire current generating capacity, the IEA said in a new forecast released on Tuesday.

That is a level of investment 30 percent higher than was predicted a year ago.

That rate of increase will make renewables the world’s biggest source of electricity by 2025, toppling coal, said the IEA.

By 2027, they will account for 38 percent of the electricity mix, up from 28 percent today.

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One Response to “Putin’s Gas Blackmail in Europe a Failure (for now)”

  1. rhymeswithgoalie Says:

    Presumably the calculations for “EU electricity” refers to the public/commercial grid. Are manufacturers (with private power or firing plants) transitioning away from coal and gas as quickly?


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