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European Fossil Fuel Power Generation Falls 24% in 2023: BNEF

ENERGY

Electricity generation from fossil fuels in Europe has sunk 24% this year to reverse the post-pandemic trend for increased fossil-fuel generation according to BNEF.

  • Gas and coal output has fallen to a record low of 488TWh amid a record year for wind and solar along with a rebound in a hydropower while high prices and mild weather have limited electricity demand.
  • European energy commodity prices have settled at twice their pre-energy crisis average.
  • Coal has seen the biggest proportional impact due to capacity closures and as easing gas prices compounded the impact of rising renewables.


Source: Bloomberg

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