Europe is emerging from its second winter since Russia’s illegal invasion of Ukraine. Despite many fears, we have emerged stronger than before, with greater energy security and solidarity, and a cleaner energy mix.
On 31 March, when the winter heating season ended, EU gas storages were over 58% full. This is the highest level on record at this time of year. These high storage levels are a result of our successful diversification of energy supplies, the efforts of citizens and businesses to reduce gas demand, and EU investments in renewable energy – the three pillars of our REPowerEU Plan.
The high level of gas storage in Europe means that markets are increasingly stable, prices are back around pre-war levels, and Europe can start refilling with confidence for next winter’s heating season.
In response to Russia’s invasion of Ukraine, the European Commission proposed the REPowerEU Plan in March 2022, to end Europe’s dependency on Russian fossil fuels. EU Leaders unanimously agreed on the need for a detailed plan, and this was subsequently presented by the Commission in May 2022. Several emergency legislative measures in the energy field followed during the course of 2022, and these have been implemented together with our Member States, citizens and industry, and reliable international partners.
Europeans have reduced their gas demand by almost 20%, which has allowed EU to save more than 107 bcm of gas in the last 18-months.bThe increased share of renewables in the energy mix has allowed the EU to replace the equivalent of 24 bcm of Russian gas in 2022 and 2023. And emissions from the power sector fell by an impressive 24% in 2023, while its economy also continued to grow.
Among the measures proposed by the Commission was a target for Member States to fill gas storages to 90% capacity by 1 November every year. With EU gas storages more than 58% full on 1st of April, EU now enters the injection season with the highest storage level on record (see below Figure).
European operators have also stored 2 billion cubic metres (bcm) of gas in Ukrainian storage, providing extra security for Europe, and supporting our partners. This high level of gas storage puts the EU well on track to meet the 90% target on 1st of November 2024, and to enter winter 2024/2025 well prepared. This will also ease the pressure on gas prices during the storage filling season.
