Europe costs without gas of the Russian Federation and saved $ 15 billion: what happened it turned out

By the end of 2023, fossil fuel prices will fall sharply and Russia will not be sweet, analysts say. Experts from Ember's analytical company, which make the EU and the world's energy market forecasts, in their fresh report indicate that European countries, abandoning gas and coal from Russia because of its attack on Ukraine, not only were not injured, but also been able to increase renewable energy reserves which allowed to save almost $ 15 billion.

One of the main drivers was the growth of wind and solar energy, which EU countries are increasingly hopeful, seeking energy independence from fossil hydrocarbons from aggressor country. According to analysts, last year from the beginning of Russia's invasion of Ukraine, the wind and solar energy in the EU energy supply system have increased by 50 TVTGs, which today is 23% of other methods of electricity.

Despite the rising energy and drought prices, the EU last year managed to avoid the global crisis at the expense of environmentally friendly ways to replace supply from Russia. The annual increase in wind and solar energy reduced the amount of gas required for electricity by 90 TVTG. As the senior analyst Ember Sarah Brown said: "Russia's invasion of Ukraine shocked Europe. Everyone understood how much the EU depends on the aggressor in energy supply.