8 ms·
Russian sources of energy gave 22% of European consumption in 2021 and renewables, another 22%. So 45% goal by 2030 seems to be yes, "bring market back to equil
by anovikov 4y ago
Russian sources of energy gave 22% of European consumption in 2021 and renewables, another 22%. So 45% goal by 2030 seems to be yes, "bring market back to equilibrium with 2021-level prices, but without Russian energy, by 2030".
Of course, we will not be using any Russian energy long before 2030. About half of it is gone already (all coal, about 40% of oil and 60% of gas), and at least 80% will be gone by February next year. It's just that we will see elevated prices on most energy for a few years after 2024 or so when Russian supplies will zero out for all countries apart from Hungary.