BRUSSELS, Sept. 23, 2025 /PRNewswire/ -- In 2024, higher shares of clean and renewable sources in the electricity mix, combined with stagnating demand, reduced average prices to €82/MWh from €227/MWh in 2022 - according to Eurelectric's Power Barometer 2025. Despite this drop, regional price spikes and market volatility persist. To stabilise the market, Europe must accelerate electrification and invest in grids, storage, and flexibility to build a reliable energy system that delivers affordable electricity to all consumers.
In 2024, the EU power sector continued its decarbonisation trajectory, with renewables and nuclear together accounting for 72% of electricity generation. Higher shares of clean and renewable sources drove down EU average wholesale prices to €82/MWh in 2024 from their peak of €227/MWh in 2022. Yet disparities remain across the internal market, with regions still reliant on fossil fuels registering higher prices.
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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