Brussels (The Brussels Morning Newspaper) – The EU Commission’s State of the Energy Union Report 2024 indicates EU progress in ensuring secure, competitive, and affordable energy for all.
The European Commission has issued the State of the Energy Union Report 2024, which explains how the EU has managed outstanding challenges in the energy policy landscape during this Commission’s mandate, supplying the EU with a regulatory framework for seeking the clean energy transition and spreading the foundations for renewed economic growth and competitiveness.
How has the EU advanced in renewable energy generation?
According to the report, significant improvement has been made in renewable energy. Wind power surpassed gas to become the EU’s second-largest source of electricity behind nuclear, and by the first half of 2024, renewables rendered 50% of electricity in the EU. In 2022, the EU’s primary energy consumption continued its downward trend, dropping by 4.1%. Nevertheless, energy efficiency measures will need to be stepped up additionally for the EU to complete the 11.7% final energy consumption decrease target by 2030. Further improvement is needed, not least in the electrification of heating equipment across the board and the rate of renovation of buildings.
How is the EU supporting Ukraine’s energy sector amid the war?
The report stated that the EU has persisted in standing by Ukraine in the face of relentless Russian aggression on its energy system. The synchronization of the Ukrainian and Moldovan grids with the Continental European Network assisted in stabilizing Ukraine’s electricity system and the capacity for electricity exchanges has now surpassed 1.7 GW for commercial trade. It also encourages Ukraine to benefit from emergency imports.
By 31 July 2024, over 40% of all contributions from Member States were committed to the energy sector, with the Union Civil Protection Mechanism’s total donation estimated at over €900 million. The Ukraine Energy Support Fund (UESF) also mustered over €500 million by June 2024. In addition, the EU’s €50 billion Ukraine Facility will deliver consistent funding to aid Ukraine’s recovery and sustainable economic growth up to 2027.
