NEWS

EU Power Demand to Rise Again

25/01/2024

The low power demand in the EU during 2023 was recently found to be due to the suspension of aluminium and chemical production and warmer temperatures resulting in reduced need for heat generation and temperature control. However, it is said to increase by 1.8pc this year and will remain high for the next two years. This rise in demand is mainly caused by the increased production of millions of electric vehicles, heat pumps and data centers. Renewables are also expected to cover part of this demand, rising to cover 33pc of power demand in 2025. Nuclear generation is foreseen to peak by 2025, thanks to France’s increased generation and the operation of new reactors across some countries.