Quarterly reports confirm continuation of positive market fundamentals in gas and electricity markets in 2023
European gas markets were characterised by a continued decline in gas prices in the second Quarter of 2023. For electricity markets, too, the second quarter trend was a continuation of positive market fundamentals that supported a fall in wholesale electricity prices.
The fourth tender for the joint purchasing of gas under the EU Energy Platform attracted bids from 13 reliable international suppliers for a total volume of 9.13 billion cubic meters (bcm), in response to the aggregated European demand of 10.06 bcm.
Speaking on behalf of the EU, the Director-General at the Commission’s DG Energy, Ditte Juul Jørgensen underlined that EU progress on energy storage, electricity markets and related global supply chains is well aligned with the initiative.
Reducing energy consumption and achieving energy savings is essential to deliver the European Green Deal.
Energy from renewable sources reduces greenhouse gas emissions and lowers our dependence on imported fossil fuels.
The EU's integrated internal energy market helps to keep energy affordable and guarantee secure supplies.
The EU's strategy for secure, competitive, and sustainable energy.
Ensuring the efficient and responsible use of fossil fuels.
A modern energy infrastructure, connecting markets and regions, is crucial to meet EU’s energy and climate goals.
The EU works to ensure that energy supplies from abroad are secure and affordable.
Innovation in low-carbon and clean energy technologies are essential to fulfil the EU’s energy union strategy.
EU programmes, calls for tenders and private-public initiatives to finance energy projects.
EU energy cooperation with countries around the world and international institutions.
The EU aims to ensure safe and secure use of civil nuclear energy which generates almost 30% of its electricity.
Our energy systems need to be sufficiently flexible to facilitate cross-border, cross-sector innovation and investment.
In this interview, Paula Pinho, Director for Just Transition, Consumers, Energy Security, Efficiency and Innovation at the European Commission Directorate-General for Energy discusses the EU's policy objectives to achieve a clean energy transition that leaves no one behind.
Biomethane can be made of organic waste, like manure, food scraps or damaged crops, and is therefore a modern way of waste management.
To REPowerEU and decarbonise our economy, the EU has set an ambitious, but realistic, target to produce 35 billion m2 of biomethane per year by 2030.
- United Arab Emirates