After abandoning Russian gas, European Union saved € 12 billion

After refusing the import of Russian gas undertaken by the EU due to the invasion of the Russian Federation to Ukraine, European countries managed to save 12 billion euros as a result of expanding the production of electricity from renewable sources. Deutsche Welle reports that the authors of the study came to such conclusions, which on Wednesday, February 22, presented the analytical center Ember Climate.

“Thanks to the expanding capacities and favorable weather conditions, wind and solar power plants after the outbreak of the war produced a record amount of electricity to the EU,” the report said.

From March 2022 to the end of January 2023, 10 percent more chicken and solar electricity has been developed in the EU than for the same period 2021-2022, the authors of the study noted. Almost a quarter (23 percent) of all electricity in the European Union was obtained from these sources – this is the highest indicator for all the years of the transition to “green energy”. In total, 50 electricity teravat hours were additionally developed for the indicated months, which would correspond to the import of 90 gas stories for 12 billion euros, is indicated in the study.

Ember Climate calculations were based on medium energy prices for the study period. In general, according to the Center, the import of natural gas in the EU was reduced by 5 percent, and the share of Russian gas from March to January was 16 percent, while before the start of a full -scale war in Ukraine this indicator reached 40 percent.