In 2022, Russia’s full-scale invasion of Ukraine and its subsequent energy blackmail levied against Europe yielded a massive disruption to the European power sector. The price of electricity skyrocketed on the back of gas supply shutoffs. Energy security soared to the top of the political agenda. Governments took matters into their own hands to keep people’s lights and heat on throughout the winter.
The good news is that we made it through, but the threat to our energy security is not over. To deliver a more secure future, Europe needs to electrify and ensure security of supply by reducing its addiction to fossil fuels imports, strengthening our power grids, and share the costs and benefits of the energy transition more equally across society.
Power Barometer 2023 presents, based on the latest available data, what it takes to make this happen.
