Saturday, February 24

Sweden’s Largest Energy Exporter in Europe in 2022

The energy crisis in Europe last year turned the energy trade upside down. For example, in 2022, Sweden will overtake France as the region’s largest exporter. This was mainly because France had to shut down several obsolete nuclear power plants for maintenance work last year.

Sweden sent 33 terawatt hours to other countries last year. The Scandinavian country thus became Europe’s top exporter for the first time, according to data from ENTSO-E analyzed by consultancy Rystad Energy. ENTSO-E is the European Network of Electricity Transmission System Operators.

France, which has many nuclear power plants, was still Europe’s largest exporter of energy in 2021. However, the problems with the nuclear power plants made the country the second-largest energy importer by 2022. The United Kingdom turned into a net electricity exporter for the first time last year, joined by Spain and the Netherlands. Therefore, the British, Spanish and Dutch sold more electricity abroad than they imported.

Energy trade in Europe was shaken last year as Moscow virtually cut off gas supplies to the region in response to Western sanctions against Russia over the war in Ukraine. “2022 was a reality check for many countries,” said Fabian Ronningen, energy markets analyst at Rystad Energy.

According to the analyst, the turmoil in the energy markets has highlighted the safety of infrastructure and the importance of interconnecting grids across the European Union. The EU wants the countries in the bloc to be able to transport 15 percent of their energy production to neighbouring countries by 2030. According to to think tank E3G, about half of EU member states are on track to achieve this.

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