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Share of gas in Europe’s power generation up despite high prices

Oil&Gas Materials 16 January 2023 12:07 (UTC +04:00)
Share of gas in Europe’s power generation up despite high prices
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Jan.16. Gas-fired power generation in Europe rose by 13 percent (+15.4 TWh) year-on-year in Q3 2022, Trend reports citing the European Commission.

“Gas-fired generation showed a significant upturn in July (+13 percent) and in August (+30 percent), whereas in September it remained stable year-on-year. In Q3 2022 wholesale gas prices at the EU hubs rose to new highs, which was not favourable to generation costs and hence the profitability of gas-fired generation. Carbon prices remained relatively stable in July and August 2022, while they decreased in September, so combined with high coal prices incentives have not been given to switch from gas to coal in power generation,” reads the Commission’s report.

The report reveals that in year-on-year comparison, the share of renewables in the EU power generation mix, rose by 1.4 percentage points, and wind, solar, biomass and hydro together represented around 38.9 percent of the EU power mix, up from 37.5 in Q3 2021.

“However, within renewables, the share of hydro fell by 2.5 percentage points, owing to dry periods in many parts of the EU, whereas the share of solar power went up by 2.7 percentage points and that of wind by almost 1 point. Electricity generation from nuclear fell by 24 percent year-on-year, largely owing capacities taken offline in France, Germany and other countries, and its share was down by almost 6 percentage points, falling below 21 percent in Q3 2022,” says the European Commission.

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