Boosting electricity demand and flexibility is key to unlock the energy transition's benefits

Although some regions - particularly south-Eastern Europe - struggled with persistent price spikes, prices on average exceeded €150/MWh only 6.9% of the time in 2024, compared to 69% in 2022. At the same time, prices turned negative on an average 3.6% of the time, highlighting that periods of oversupply remain a challenge. Although some regions - particularly south- Eastern Europe- struggled with persistent price spikes, prices on average exceeded €150/MWh only 6.9% of the time in 2024,...

Although some regions - particularly south-Eastern Europe - struggled with persistent price spikes, prices on average exceeded €150/MWh only 6.9% of the time in 2024, compared to 69% in 2022. At the same time, prices turned negative on an average 3.6% of the time, highlighting that periods of oversupply remain a challenge.

"To address market volatility, we need to invest in grids, storage and flexibility. At the same time, sluggish demand remains a barrier to sustained investments." said Kristian Ruby, Secretary General of Eurelectric.

Electricity demand in fact only grew by 1% in 2024 – still 7% lower than 2021 levels, showing that the EU is still recovering from the energy crisis. Incentivising electrification will be key to reaching the 32% target by 2030 set out by the Clean Industrial Deal.

To this end, Eurelectric calls on policymakers to accelerate electrification across all sectors - transport, heating, and industry, alongside setting effective investments signals for grid and flexibility solutions to balance the system.

Note to Editors:

Eurelectric represents the interests of the European electricity industry. We seek to contribute to our industry's competitiveness, provide effective representation in public affairs and promote the role of electricity in the advancement of society.

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