(Montel) Increased wind and solar energy production has reduced the amount of gas required for power generation by 9bcm (90 TWh) – equivalent to about EUR 12bn – since the beginning of the Russian war in Ukraine, according to Ember.
Ember’s analysis is based on data from 1 March 2022 through 31 January.
The EU imported 330bcm of gas over the 11-month period, with 54bcm (16%) coming from Russia, it added.
While total gas imports decreased by just 5% (19bcm) compared to the same period in the previous year, Russian imports plunged 60% (82bcm).
Prior to Russia’s military invasion of Ukraine on 24 February 2022, the EU relied on Russia for around 40% of its imported gas. But that has dropped to 16%, according to Ember.
Change in attitude
Russia’s war in Ukraine has spurred the EU to rethink its policies on energy security, energy affordability and climate goals, according to the think tank.
“The solution to all three: build more clean power, faster,” said Ember.
Most European counties increased their renewable electricity ambitions, announcing higher targets, shorter project timelines and supportive policies.
All that is “critical,” but “more importantly, these increased capacities must be delivered,” Ember added. “Only then can Europe displace fossil fuels in order to achieve lasting energy security and independence.”