Update: January 31, 2022 3:22 p.m. STI
Brussels [Belgium]January 31 (ANI/Sputnik): The use of coal in power generation in Europe increased by more than 11% last year, while gas generation fell by 1% due to high oil prices. fuel, the International Energy Agency (IEA) said in a new statement. quarterly report.
In 2020, falling natural gas prices prompted many parts of the world, including Europe, to reduce the use of coal in power generation, the IEA said. But the trend started to change in the second half of 2020, when gas prices started their upward movement.
“In the second half of 2021, rising prices played against the use of gas in power generation. Coal-fired generation increased by more than 11% in Europe in 2021, while gas-fired generation decreased by 1%,” the report says.
In the first six months of last year, global gas demand grew steadily and recorded a 7% year-on-year increase, IEA experts found.
“However, the gradual tightening of supply and demand fundamentals and the resulting increase in natural gas prices had negative effects on demand in the second half of the year, leading to a slowdown growth, fuel switching and, in some cases, demand destruction around 4.6% YoY [year-over-year] increase in gas consumption for the whole of 2021,” reads the report.
The second half of 2021 brought Europe into an energy crisis caused by soaring natural gas prices, fueled by high energy demand for a post-lockdown economic recovery and limited supply. (ANI/Sputnik)