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HomeUpdate on energy price assumptions on economic potential savings
Final report
Update on energy price assumptions on economic potential savings
Final report
Latest edition.
Publication metadata
Since completion of the 2021 Assessment, EU is facing a dual energy crisis: (i) high-energy price inflation and (ii) the need to diversify oil and gas imports away from Russia. Energy prices have increased significantly across EU as demand recovered after the pandemic, further escalated by the conflict in Russia and Ukraine. In this context, it is expected that the economic energy saving potential quantified in the 2021 Assessment would increase, especially because of the recent energy price trends. This contract aims to obtain an ad-hoc, high-level estimate of the changes in economic energy saving potential projection of the 2021 Assessment. On the other hand, the technical energy saving potential is not anticipated to change as it only depends on technical feasibility factors and does not fluctuate with economic factors. As a result, a short report outlining the changes in the economic energy saving potential considering the current energy prices was prepared and submitted to the Commission. The 2021 Assessment along with this updated analysis assessed energy saving potential on a long-term basis under nominal conditions as set out in the EU Reference Scenario. It does not account for critical market shifts due to unexpected events. It was also not intended to be carried out for the purpose of addressing market crisis or generating corresponding emergency measures.
- Published:
- Corporate author(s): Directorate-General for Energy (European Commission)
- Personal author(s): Chan, Yeen
- Themes: Energy
- Subject: cost-effectiveness analysis , energy consumption , energy demand , energy saving , fuel , heating , housing , industrial enterprise , price of energy , report , road transport
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| ISSN | ISBN 978-92-76-99021-5 | DOI 10.2833/971788 | Catalogue number MJ-07-23-045-EN-N |
- Released on EU Publications:
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