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, our 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 our 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.
While we can be proud of how the EU has managed the energy crisis so far, there is no room for complacency. We must continue to support our citizens and industry, and our Ukrainian friends. Ensuring Europe's energy security and competitiveness, bringing down prices and advancing the clean energy transition remain a high priority.
Background
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.
The share of Europe's Russian gas imports fell from 45% in 2021 to 24% in 2022, and further to 15% in 2023. This downward trend must continue.
Europeans have reduced their gas demand by almost 20%, which has allowed us to save more than 107 bcm of gas in the last 18-months.
The increased share of renewables in the energy mix has allowed us 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 our economy also continued to grow.
