Episode 07: Watt's Next? The Journey of Power Production in the EU Electricity Market
📺[Youtube] 🎙[Castbox]
━━━━━━◉──────
↻ㅤ ◁ㅤ ㅤ❚❚ㅤ ㅤ▷ㅤㅤ ⇆
Welcome back to OptaCast. Today, we'll dive into the intricacies of how electricity is produced and sold in the European Union.🏠 @Optamin 📚 @OptaSeries
At the EU level, renewable energy holds the largest share of power generation, followed by fossil fuels and nuclear energy. However, the mix of energy sources used to generate electricity varies significantly across different EU countries.
Besides, Russia’s aggressive actions against Ukraine have had a significant impact on the prices of fossil fuels in the EU, particularly natural gas. This, in turn, has driven up electricity prices for Europeans. The reason behind this is the close link between electricity prices and the cost of natural gas used in power generation.
Thus, The EU is actively working on reforming its electricity market to prevent such price shocks in the future that will be discussed in this episode.
🎙 @OptaCast