The European Commission publishes its 2022 State of the Energy Union report highlighting the challenges facing the sector.
A context of crisis
The Commission describes the progress made in implementing the Green Deal in several areas. It also includes a detailed analysis of the achievement of the 2020 energy and climate targets. Finally, it describes the Union’s support to accelerate the global green and fair energy transition.
In this seventh edition, the Commission reviews the response of member countries to this crisis. Energy Commissioner Kadri Simson states:
“This report shows what the EU has done in response to the current energy market crisis and the progress we have made overall. At the same time, it highlights how these developments fit with our long-term climate goals.”
The report examines energy supply and demand, supply diversification, and the impact on consumers and businesses.
Favorable statistics
In 2020, the Commission believes that the European Union will have topasses its 32% emissions reduction targets. Energy efficiency is 5% to 6% below the 20% target. Renewable energy exceeds targets by 22.1%.
Fossil fuel subsidies fall by 5% in 2020, but remain stable in 2021, due to Covid-19. The deployment of solar energy grows from 17% to 26% and the production increases by 12% during the summer period. The share of renewable energy in the energy mix is expected to increase from 37% in 2021 to 69% in 2030.
Hydrogen financing
The share of Russian gas in imports from the European Union from 41% in 2021 to 9% in September 2022. According to the European Commission, the Union exceeds 91% of its gas storage capacity. In addition, LNG now accounts for 32% of total EU net gas imports.
The Commission stresses that Brussels promises more than €21 billion in the coming years forhydrogen. In addition, electrolyzer manufacturers in Europe are committed to a tenfold increase in electrolyzer manufacturing capacity to 17.5GW by 2025. Finally, the report describes the progress made in implementing the European Green Deal.
