Germany’s energy demand dropped by 1.9% over the first half of the year on surging oil and gas prices, according to preliminary data released by the Working Group on Energy Balances (AGEB), an association of German economic and energy organizations.
Oil product consumption in the period fell by 8%, with the decline especially marked in diesel consumption, which was down by close to 6%. Gasoline consumption, on the other hand, fell by a much more moderate 0.6%, dpa reported, citing AGEB figures. Jet fuel consumption fell by 1% while light heating oil consumption plummeted by over 30%.
Coal consumption, meanwhile, rose by a sizable 7% for a country determined to quit the cheapest hydrocarbon fuel, and natural gas consumption also went up, by 1.3%, AGEB also said. All in all, hydrocarbons accounted for 75.9% of the country’s energy consumption over the first half of the year.
Wind and solar generation grew in the period, thanks mostly to a boost in wind power. In total, wind and solar accounted for 22.2% of overall energy consumption. This was up from 20.9% a year earlier, the data also showed. In terms of electricity generation, earlier data showed that hydropower, wind, and solar accounted for an all-time high of 58% in the first half of the year, up from 55.8% a year earlier. The bulk of the increase came from wind, while hydro fell by 7.7%.
Germany has some of the most ambitious energy transition plans in Europe, betting on wind and solar dominating its grid in the future. Despite solid growth in installed capacity, however, the transition plan has run into obstacles, such as a prolonged wind drought last year, and transmission capacity limits that are plaguing net-zero efforts across Europe. Removing these limits will require billions in grid expansion investment.
By Irina Slav for Oilprice.com
More Top Reads From Oilprice.com
- Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High
- Ukraine’s Drone Campaign Drives Russian Oil Refining to 24-Year Low
- Dark Tanker Transits Surge at Bab el-Mandeb as Houthi Threat Persists
