Race against time in energy: The critical year 2024

The ongoing energy crisis in Europe will face its toughest challenges this fall and winter. The results to be obtained from these tests, the lessons to be experienced, will bring along the historical measures and the struggle for a solution in the 1-year period until the autumn of 2023. Because the current conditions that triggered the energy crisis, unless new solutions are put into use by 2024, 2024 For Europe, beyond the crisis, the year of ‘nightmare period’ indicates that it can pass. Therefore, there is a real race against time in energy, limited to one year at the most.
After the Russian-Ukrainian War broke out, the first important development that triggered the crisis in the European energy market was combined cycle gas power plants (CCGT) originated. CCGTs are an area dominating European marginal energy prices. Therefore, in the last 6 months, the multiplier effect of the war on future gas prices triggered the increase in electricity prices. Therefore, the European Union (EU) The top priority issue on the Commission’s agenda is to implement a market regulation as soon as possible that will eliminate the relationship between natural gas prices and electricity prices. The statements expected to be made by EU Commission President Von Der Leyen on 14 September may bring about concrete developments in this regard.
However, in Europe end The driest summer in 500 yearslived of existing energy and electricity cause the crisis to deepen has happened. last august deepening the crisis since the first of the developments is very low French use of ‘nuclear’. most of france large public energy company EDF 2023 nuclear energy use capacity for 300-330 TWhdownloaded to . year 2022 performance is also the cause of drought. due to ‘cooling’ problems still not going well. Second important The problem is, again, due to the historical drought. in hydroelectric power plants low hydro stock. from Scandinavia A serious hydropower problem to Iberia aforementioned. of the Russo-Ukrainian War due to logistics problems caused by Rhinelow water level in due to the river’s coal power plants supply capacity 25′to Falling is also a big problem.
Add to that the capacity reduction due to thermal, gas and nuclear power plants in Europe, which were shut down due to the end of their economic and technical life; Europe is caught in the energy crisis under very difficult conditions. The wind, solar and geothermal capacity, which has increased rapidly in the last 10 years in Europe, is not yet at a level to compensate for the deficiency caused by other energy derivatives. For this reason, liquid natural gas (liquid natural gas) from many different suppliers, especially the USALNGEurope will almost race against time, especially in 2024, in order not to encounter an even more severe energy crisis that will almost stop all daily life on the continent. . For this reason, many issues are on the table, including the steps of the EU Commission for the energy market players to soften the strict regulations that limit the range of action of all stakeholders for a while. As comprehensive measures are shared, we will continue to convey.


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