Electrical Grid

EU consumers could save €71bn in 2030 by playing active role in energy market

New report quantifies benefits of a transition to clean energy
Life
Image: Shutterstock via Dennis

4 October 2022

EU consumers could save €71 billion in the year 2030, with similar savings in the years beyond, if demand-side flexibility was fully deployed. This is according to a new study by DNV published by smartEn – Smart Energy Europe and sponsored by Eaton, Enel X, EDF and Voltalis.  

The study – Demand-side flexibility in the EU: Quantification of benefits in 2030 – aims to fill an important gap as no comprehensive assessment of DSF potential in the EU has ever been carried out up until now. It put forward an analysis of the scale of emissions reductions and cost savings that can be achieved if households and businesses on the demand side are enabled and encouraged to play a more active role in energy markets. 

Amongst other findings, the following results were found in a scenario that unleashes the full activation of flexibility from buildings, electric vehicles, and industry. It said that in the year 2030 €11.1 to €29.1 billion would be saved annually in distribution grid investments; €71 billion would be saved annually by consumers directly; €2.7 billion would be saved annually in avoided peak generation capacity.

“We are very satisfied that, among the Emergency Market Design Interventions, a peak electricity demand reduction target was introduced to stimulate time-dependent, flexible consumption,” said  Michael Villa, executive director, smarten. “As pointed out in the DNV study, the active role of consumers makes enormous sense both now, for this emergency situation, and in 2030, to help integrate renewable electricity and achieve our 55GHG reduction target in a cost-effective way.” 

Daniele Andreoli, head of demand response, Enel X Global Retail, added that: “The study represents a pivotal milestone for further development of demand-side flexibility solutions, as it clearly reveals and quantifies the crucial role of flexible consumption to reach the energy transition in a sustainable and cost-effective way.” 

TechCentral Reporters

Read More:


Back to Top ↑

TechCentral.ie