Giving consumers in the EU Secure, Sustainable and Affordable Energy

Back in Feb 2015, the European Commission launched a new strategy, called the Energy Union with climate change policy.

The main objective of this strategy is to give households and businesses, secure, sustainable and affordable energy throughout Europe. The Energy Union strategy focuses on some key dimensions which are designed to bring the aforementioned objectives to light. These are, energy security and trust, decarbonisation of the economy, a fully integrated internal energy market, energy efficiency and moderation of demand and finally, research, innovation and competitiveness.

The strategy undergoes monitoring annually and ensures issues are highlighted where attention is further needed. This, in turn, shows the progress made since the adoption of the Energy Union.

Source of Energy

Back in 2017, the source of energy was about 45% from the EU, while 55% of energy was imported from third countries. The type of energy sources available was made up of Nuclear Energy, Petroleum Products, Fossil Fuels, Natural Gas and Renewable Energy (solar, wind and hydro).

The shares of these sources vary between EU member states. Nuclear energy accounts for 40% in France and 31% in Sweden. Petroleum products account for a total energy share available in Luxemburg 64%, Malta 88% and Cyprus 93%. Fossil fuels come from Poland at 48% and Estonia at 71%, whilst Natural Gasses are produced in the UK, Nederland’s and Italy. Renewable Energy accounts for a total of 40% in Sweden and Latvia.

Types of Energy Consumed in the EU

From the total energy that’s available in the EU, approximately two-thirds are consumed by EU citizens, industries, transports and other similar end-users. The other third is lost during electricity generation and distribution.

According to sources from Eurostat, the most consumed of all energies is Petroleum Products. In the EU, Petroleum products like petrol, diesel or heating oil, that represent 41% of final energy consumption, are mostly consumed. Following Petroleum products comes Natural gasses at 22%, electricity at 21%, direct renewable energy use that’s not transformed into electricity at 9%. The real consumption of renewable energy is close to 10% because other sources like wind power, solar photovoltaic and hydropower are included in electricity.

Energy is consumed by various economy sectors like households, transport systems, industries, services and agriculture. The industry sector consumes 31%, the transport sector consumes 28%, households consume 25%, services 13% and agriculture consume 2% of the final energy consumption.

The majority of electricity is consumed in the EU which comes from power stations burning fossil fuels. Approximately one-fourth of total energy is consumed by electricity and comes from sources like fossil fuel burning power stations, nuclear plants and finally renewable energies like wind turbines, solar power and hydro plants.

Energy and the Environment connection

Climate change threatens sustainable development and scientific research realizes that the increased temperatures are mostly caused by greenhouse gas emissions (GHG), a by-product of fuel-burning from cars, homes and of course power plants. Between 2010 until today, we have seen a significant decrease in GHG and an overall improvement to the environment.

Additionally, efficiency is vital and this is one of the Energy Unions strategies, to reduce energy consumption in the next decade.

 

Disclaimer: HighWorthCitizen.com is not intended to provide legal, tax or investment advice, and nothing on HighWorthCitizen.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by HighWorthCitizen.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

 

Image Source by EUobserver

Christopher Zenios

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at czenios@highworthcitizen.com for editorial related questions.



About us

High Worth Citizen is all about delivering the latest business news on finance, investment, real estate and wealth. Our readers are the rich and powerful, their associates and business partners, the global High Net Worth Individuals.


CONTACT US