Europe energy policy long-term outlook 2020 Report

Commodity Market Report 31 July 2020

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

EU policy measures will be the biggest driver of changes in energy use across Europe as the bloc tackles declining gas production, increasing reliance on imports and commits to a decarbonised economy. Consequently, the now 27-Member States are obliged to meet corresponding goals to develop 'a more secure, sustainable and affordable' energy mix. The level of ambition in the Green Deal makes much of the EU’s existing climate and energy policy suite redundant. We estimate current measures put the EU on a trajectory to reach a 60% reduction in greenhouse gas (GHG) emissions from 1990 levels by 2050 versus the previous – and non-binding – aspiration to cut emissions by 80-95%. A net zero 2050 target, with additional objectives to clean up all aspects of the economy, requires a fundamental rewrite of the European rulebook. Current measures also make the EU's chances of achieving it's binding 40% reduction target by 2030 extremely tight, according to our modelling.