In 2013, for the second year in a row, more than half of the electricity generated in Europe came from low-carbon facilities. Of the 3101 TWh of electricity produced in 2013 in EU 28, 27% came from renewables and another 27% from nuclear. The structure of the power industry is changing rapidly, with a growing diversification of its portfolio towards variable generation sources and a stronger focus on developing smart meters and empowering customers. Of the newly installed renewables capacity in 2013, 80% were added by large utilities, making the European utility business a world sustainability leader . These results are a direct consequence of the commitments made by power companies since the inception of the EU’s climate policies to actively contribute to the decarbonisation process.
The energy transition requires prompt and necessary policy and market adaptations to allow power companies to bridge the investment gap and offer a continued safe and affordable electricity supply to its customers. It is thus vital to reinforce the EU Emission Trading System and achieve a well-connected and integrated power market where both flexibility and capacity are properly valued.