According to the latest data published by the International Energy Agency (IEA) carbon emissions from electricity generation in the European Union reached 557 Mt CO2 last year. Related to the previous year, emissions dropped by a massive 22%.

Following a promising decline in 2020 which was mostly triggered by the pandemic-related restrictions, EU emissions began rising in 2021, as the world rebounded from the pandemic and continued to increase in 2022 as well.

However, data released by the IEA revealed that emissions from power generation in Europe in 2023 managed to remain well below the previous record low of 615 Mt CO2 recorded in 2020. This time around, the decline was triggered by reduced power demand and rapid growth of renewables.

The electricity demand dropped last year to levels reached two decades ago. The reduced consumption in the industrial sector was seen as the main factor, as it remained below pre-pandemic levels.

“Electricity demand in the European Union’s industrial sector fell by an estimated 6% in 2023 after a similar decline in 2022,” wrote the agency in a report published this month.

The IEA expects emissions from electricity generation in Europe to continue to fall at least until 2026, despite the rebound in power demand and due to several factors such as “slim chances of a quick recovery for energy-intensive industries.” According to the agency, emissions could drop below 400 Mt CO2 by 2026, around 30% below last year’s level.