BAKU, Azerbaijan, Oct.17. Based on data from ENTSO-E, gas-fired power generation showed a decrease of 7 percent (-8.1 TWh) in EU year-on-year in Q2 2022, Trend reports October 17 with reference to the European Commission.
The Commission’s report reveals that gas-fired generation showed a significant fall in April year-on-year (-20 percent), whereas in May it rose by 7 percent and in June fell back again (-4 percent).
“In Q2 2022 wholesale gas prices were quite volatile and increased measurably in June on most of the EU gas hubs, which was not favourable to generation costs and hence the profitability of gas-fired generation. Carbon prices remained relatively stable over Q2 2022, and soaring coal prices did not give incentives to switch from gas to coal in power generation,” reads the report.
Reportedly, with record high gas prices, the share of gas was down by 1 percentage point year-on-year, and amounted to 17 percent in Q2 2022. The share of power generation from solid fuels rose slightly in Q2 2022, reaching 15 percent (up from 12.5 percent a year before) as coal and lignite-fired generation together rose significantly, by almost 19 percent in Q2 2022 year-on-year.