In 2023, Spain led European countries in gross electricity production from fuel oil, with a marked output of 7.73 thousand GWh. France, Greece, and Cyprus followed, demonstrating modest production levels above 3 thousand GWh. Notably, Portugal experienced a significant decrease of 25.32%, suggesting a possible shift in energy strategies. Likewise, Ukraine and the United Kingdom noted substantial declines, at 26.79% and 52.4% respectively. Conversely, Ireland and Macedonia marked substantial positive variations, with increases of 15.54% and 14.37%. The five-year CAGR suggests a general decline in fuel oil-dependent electricity production, a trend impacted by Europe's shift to renewable energy sources.
Future trends to watch include continued European investments in renewable energy, potentially leading to further declines in fuel oil's role in electricity production. Market dynamics may also be influenced by geopolitical factors and technological advancements, affecting the accessibility and cost of fuel oil and its alternatives.
Top countries in Gross Electricity Production from Fuel Oil by Country
| # | 10 Countries | Gigawatthours | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 7,730 | 2023 | +3.18% | -2.6% | View data |
| 2 | 2 France | 3,860 | 2023 | +3.13% | +1.27% | View data |
| 3 | 3 Greece | 3,630 | 2023 | +1.1% | -1.19% | View data |
| 4 | 4 Cyprus | 3,300 | 2023 | +6.61% | +0.34% | View data |
| 5 | 5 Poland | 1,560 | 2023 | +0.7% | +1.01% | View data |
| 6 | 6 Germany | 1,110 | 2023 | +1.47% | +0.74% | View data |
| 7 | 7 Slovakia | 368 | 2023 | +0.82% | -3.07% | View data |
| 8 | 8 Austria | 333.87 | 2023 | -9.53% | -2.57% | View data |
| 9 | 9 Portugal | 230.46 | 2023 | -43.93% | -25.32% | View data |
| 10 | 10 Ireland | 204.43 | 2023 | -18.16% | +15.54% | View data |
