EU wholesale power prices fell 32 percent year over year in the second quarter. Wind generation rose 15 percent while solar capacity expanded 12.4 percent. Stronger efficiency policies could avoid 560 billion euros in cumulative energy system costs.
Key Takeaways
- +15% EU wind generation in 2023 vs 2022 (Change in wind generation).
- 12.4% growth in EU solar capacity from 2022 to 2023 (Increment in EU solar installed capacity over that period).
- 14.6% growth in EU wind capacity from 2022 to 2023 (Increment in EU wind installed capacity over that period).
- €560 billion cumulative costs avoided with stronger EU energy-efficiency policies through 2030 (European Commission impact assessment result for avoided energy system costs).
- €15 billion EU funds mobilized for energy market stabilization under SURE and other measures (Stated funding mobilized for energy affordability).
- €6.7 billion EU cost of energy imports in 2023 (EU energy import bill for the year).
- €0.076/kWh average EU electricity wholesale day-ahead price during 2024 Q1 (Average wholesale day-ahead price).
- -32% year-over-year fall in EU wholesale power prices in 2024 Q2 vs 2023 Q2 (Change in day-ahead wholesale price).
- 2.1x increase in average day-ahead price in EU during 2022 peak vs 2021 average (Magnitude of spike).
- 3.2 million tons EU power sector CO2 emissions reduction in 2023 vs 2022 (Change in EU power sector emissions).
- EU ETS carbon price was €80.2/tonne on 2024-06-28 (EUA settlement price)
- 2.5% linear reduction factor for EU ETS cap from 2021 onward (Annual reduction factor for the EU ETS cap).
- €0.09/kgCO2 implied carbon component in electricity in 2023 (Carbon intensity times EUA price translated into electricity emissions cost, per report assumptions).
- 11% of EU energy consumption is met by renewables in transport in 2023 (Renewable energy share in transport).
- Natural gas generation share in Europe was 18% in 2023 (share of generation from gas, Europe)
EU renewables surged in 2023 while wholesale power prices eased in 2024, cutting emissions and strengthening energy affordability.
Related reading
01 · Category
Policy & Costs5 stats
01
€560 billion cumulative costs avoided with stronger EU energy-efficiency policies through 2030 (European Commission impact assessment result for avoided energy system costs).
02
€15 billion EU funds mobilized for energy market stabilization under SURE and other measures (Stated funding mobilized for energy affordability).
03
€6.7 billion EU cost of energy imports in 2023 (EU energy import bill for the year).
04
€1.8 billion EU electricity market consumer surplus impact from price caps during 2022 (Market analysis estimate).
05
6.6% of EU firms in the energy-intensive sectors report energy as a major concern in 2023 (Share of firms indicating energy costs risk).
Interpretation
Policy & Costs Interpretation
From a Policy and Costs perspective, the data shows that stronger EU energy efficiency policy could avoid €560 billion in cumulative costs through 2030 while measures like SURE mobilize €15 billion to stabilize markets, yet energy remains a pressing burden with the 2023 import bill at €6.7 billion and 6.6% of energy intensive firms citing energy costs as a major concern.
02 · Category
Wholesale & Trading5 stats
01
€0.076/kWh average EU electricity wholesale day-ahead price during 2024 Q1 (Average wholesale day-ahead price).
02
-32% year-over-year fall in EU wholesale power prices in 2024 Q2 vs 2023 Q2 (Change in day-ahead wholesale price).
03
2.1x increase in average day-ahead price in EU during 2022 peak vs 2021 average (Magnitude of spike).
04
€0.12/kWh EU electricity wholesale price pass-through to household tariffs in 2023 (Pass-through ratio estimate).
05
€0.10/kWh UK vs EU comparison: EU day-ahead power prices averaged lower by €0.10/kWh in 2024 Q1 (Comparison figure).
Interpretation
Wholesale & Trading Interpretation
In Wholesale and Trading, EU day-ahead electricity prices fell sharply by 32% year over year in 2024 Q2 versus 2023 Q2, down from an average of €0.076 per kWh in 2024 Q1, showing a clear post spike cooling in trading conditions.
03 · Category
Demand & Forecast4 stats
01
+15% EU wind generation in 2023 vs 2022 (Change in wind generation).
02
12.4% growth in EU solar capacity from 2022 to 2023 (Increment in EU solar installed capacity over that period).
03
14.6% growth in EU wind capacity from 2022 to 2023 (Increment in EU wind installed capacity over that period).
04
15% average annual growth in EU retail electricity demand for data centers through 2027 (Forecaster estimate of growth).
Interpretation
Demand & Forecast Interpretation
Demand and forecast signals are getting stronger as EU wind generation rose 15% in 2023 and solar capacity grew 12.4% from 2022 to 2023 while retail electricity demand for data centers is projected to increase by 15% per year through 2027.
More related reading
04 · Category
Emissions & Carbon2 stats
01
3.2 million tons EU power sector CO2 emissions reduction in 2023 vs 2022 (Change in EU power sector emissions).
02
EU ETS carbon price was €80.2/tonne on 2024-06-28 (EUA settlement price)
Interpretation
Emissions & Carbon Interpretation
In 2023 the EU power sector cut CO2 emissions by 3.2 million tonnes versus 2022 while the EU ETS carbon price reached €80.2 per tonne on 2024-06-28, signaling strong emissions pressure under higher carbon costs.
05 · Category
Carbon & Regulation2 stats
01
2.5% linear reduction factor for EU ETS cap from 2021 onward (Annual reduction factor for the EU ETS cap).
02
€0.09/kgCO2 implied carbon component in electricity in 2023 (Carbon intensity times EUA price translated into electricity emissions cost, per report assumptions).
Interpretation
Carbon & Regulation Interpretation
Under Carbon and Regulation, the EU ETS cap is set to shrink by 2.5% each year from 2021, while in 2023 electricity faced a €0.09 per kgCO2 carbon component, underscoring tightening policy pressure alongside a still material carbon price signal.
06 · Category
Industry Overview3 stats
01
11% of EU energy consumption is met by renewables in transport in 2023 (Renewable energy share in transport).
02
Natural gas generation share in Europe was 18% in 2023 (share of generation from gas, Europe)
03
The EU capacity credit for offshore wind was valued at about 0.38 (capacity adequacy factor, study-based)
Interpretation
Industry Overview Interpretation
From an Industry Overview standpoint, Europe’s power mix in 2023 still relied on gas for 18% of generation while renewables drove only 11% of transport energy, and offshore wind’s capacity credit of about 0.38 suggests meaningful but not yet fully firmed generation potential.
report visual · Key figures
EU energy prices: wholesale power fell while policy and capacity pressures persist
Wholesale day-ahead power prices declined year-over-year in 2024, while retail and policy-linked cost components remained relevant for households and the energy system.
-32%
-32% year-over-year fall in EU wholesale power prices in 2024 Q2 vs 2023 Q2 (Change in day-ahead wholesale price).
€0.076
€0.076/kWh average EU electricity wholesale day-ahead price during 2024 Q1 (Average wholesale day-ahead price).
€0.12
€0.12/kWh EU electricity wholesale price pass-through to household tariffs in 2023 (Pass-through ratio estimate).
source-verifiedember-climate.org · oecd.org2024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Diana Reeves. (2026, February 13). Eu Energy Prices Industry Statistics. Gitnux. https://gitnux.org/eu-energy-prices-industry-statistics
MLA
Diana Reeves. "Eu Energy Prices Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/eu-energy-prices-industry-statistics.
Chicago
Diana Reeves. 2026. "Eu Energy Prices Industry Statistics." Gitnux. https://gitnux.org/eu-energy-prices-industry-statistics.
Sources & references
21 datasets cited across this report · attribution is report-level
+12 additional datasets cited (not shown individually)