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EU Power Demand Fell 3.3% YoY in 2023

ELECTRICITY

EU power demand fell by 3.3%, or 83TWh, year on year in 2023, after a yearly decline in demand of 4.3% in 2022 according to ICIS.

  • The bloc’s electricity demand rose above 2022 levels in Q4 but remained 7% below the 2017-2021 average.
  • Gas use for power generation fell at the fastest pace in absolute terms by 83TWh but coal and lignite both saw larger falls in percentage terms by 28.5% and 26.3%, respectively.


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