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New energy market reports show surge in wind energy

electricity market reportThe new electricity market report, published by the European Commission, confirms that over the last few years electricity consumption in the EU has clearly been decoupled from economic growth. The EU’s GDP increased by almost 12% between 2010 and the end of 2017; over the same period, electricity consumption decreased by 4%. Moreover, in December 2017 more energy from wind was generated in the EU than ever before: 41 TWh (terawatt hours), equivalent to 16% of the EU’s electricity mix.

In the fourth quarter of 2017 wholesale electricity prices in the EU were generally higher compared with the previous quarter. This was caused by higher seasonal demand at the beginning of the winter period and increasing use of fossil fuels in power generation, as significant nuclear capacities were taken out of use in France, either due to maintenance works or to safety inspections. Retail electricity prices for household customers were also up by almost 5% in December 2017 in EU capital cities on average in a year-on-year comparison, primarily owing to increased energy supply costs, reflecting the evolution of wholesale electricity prices

 

 

 

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