Global total net electricity production among OECD members amounted to 996.1 TWh in July 2024, up 2.6% compared to the previous July, while generation from fossil fuels marginally decreased 0.8%, as shown by the International Energy Agency’s latest ‘Monthly Electricity Statistics’.
The increase was driven by a strong component from renewable sources (+7.8% y-o-y). In particular, solar generation surged by 20.6% year-on-year and hydropower 8.1% year-on-year. Lower hydropower production in OECD Asia-Oceania (-12.3% y-o-y), was compensated for by a significant recovery in OECD Europe (+21.4% y-o-y) and, to a lesser extent, the OECD Americas (+2.7% y-o-y). However, wind generation across the whole OECD fell 5.1% year-on-year. Increases in Asia-Oceania (13.8% y-o-y) and the Americas (+1.6% y-o-y) were insufficient to offset large absolute decreases in Europe (-12.5% y-o-y). The share of renewable sources in the electricity mix in July rose 1.6 percentage points year-on-year to 32.9%.
Production from fossil fuels marginally decreased 0.8% year-on-year. OECD Europe registered the highest reduction (-6.9% y-o-y), largely owing to a decrease in production from natural gas (-11.9% y-o-y). Fossil fuel based generation in the Americas remained flat (0.0% y-o-y), although Asia-Oceania saw an increase of 1.6% year-on-year. The share of fossil fuels in the OECD electricity mix fell 1.8 percentage points year-on-year to 51.1% in July 2024.
Electricity production from nuclear power increased by 3.6% year-on-year. OECD Europe (+9.7% y-o-y) and Asia-Oceania (+3.4% y-o-y) registered increases in nuclear production, whilst the Americas remained relatively stable (-0.2% y-o-y). The share of nuclear power in the OECD electricity mix remained stable compared to July 2023 at 15.6%.
