EU Energy Outlook: 2024 Primary Energy Consumption Update

The European Union's primary energy consumption hit 1,202 million tonnes of oil equivalent in 2024, marking a 0.8% dip from the previous year. This modest decline reflects ongoing efforts in the region's energy transition.

More significantly, the gap between current consumption and the EU's 2030 energy efficiency target of 992.5 Mtoe has narrowed considerably—now standing at just 21.1% away. This demonstrates measurable progress toward meeting the bloc's sustainability commitments.

The data underscores how macroeconomic shifts and energy policy reforms are reshaping consumption patterns across Europe, with implications for both traditional markets and emerging digital asset ecosystems.