nuclear-news

Renewables are crushing gas-fired power

Europe’s electricity system is transitioning at breakneck speed.
Renewables are displacing thermal generation so fast that gas-fired power
has slumped to a two-decade low. Continental Europe produced less
electricity from natural gas over the first seven months of this year than
at any time since 2005, according to research by Energy Flux. A few
countries bucked the trend, but at the regional level there is no sign of
this changing any time soon. The continent’s full-throttled embrace of
wind and solar — combined with the return of French nuclear, and Alpine
hydro, milder winters and a weak economic recovery — has dislodged gas
from the heart of many EU power markets. The transformation is both
astonishing and alarming. Europe’s great gas power slump has wiped out
the equivalent of the combined annual primary gas demand of Denmark,
Ireland, Norway and Portugal since 2017. That’s roughly 240 cargoes of
liquefied natural gas (LNG) every year, no longer needed.

 Energy Flux 1st Aug 2024

https://www.energyflux.news/p/renewable-crushing-gas-fired-power-wind-solar-eu

August 3, 2024 - Posted by Christina Macpherson | EUROPE, renewable