In 2022, the war broke out in Ukraine with massive impacts. Consumers were heavily impacted by the crisisEU governments' funding to shield households & firmsEU-27 medium households’ bills2021-2022Retail prices for new contracts in capital cities2021-2022 +14,5 %+76 %€646 bnSource: Eurostat, HEPI, BruegelEnergy-intensives saw their production decrease808590951001051107-20195-20203-20211-202211-2022100 = 2015 levelEU aluminium, zinc, and silicon taken offline, with risk of permanent smelter closures, in 2022.35-45%Wood, paper, printing and reproductionChemicals, pharmaceutical products and preparations Non-metallic mineral productsMetal and fabricated metal products, except machinery and equipmentDomestic production drop vs 2015Source: Eurostat (2019-2023), EurometauxOil & gas companies reaped huge profitsFigures represent the average profits made by the 5 largest oil & gas companies and utilities (EDF and Uniper losses excluded)53 bn2017-2021 avg195 bnOil & gas+268 % profit202215 bn12 bnPower utilities+25 % profit20222017-2021 avgSource: Eurelectric based on annual reports of the companiesUtilities faced liquidity crunch due to huge collateral needsMargining exposure for European utilities01020304050602020H1 20212021HI 2022€ 148 bnCredit lines from governments to utilities to meet liquidity needsEnergy prices shot up(€Bn) Source: Scope Rating, BruegelPolitical interventions hindered power marketsUtility PPA capacity signed in 2022 vs. 2021Activity on the Iberian forward market in 2022 vs. 2021Practically no activity on Romanian forward market after emergency ordinance in August 2022-53 %-75 %0- 59 % Wind final investment decisions (FIDs) in 2022 vs 2021Source: Eurelectric, EFET based on EEX and OPCOM, Pexapark for PPA figureYet gas savings...
