Renewable energy sources have witnessed a remarkable surge while fossil fuel-based electricity production experienced a decline, according to the latest Monthly Electricity Statistics report by the International Energy Agency (IEA).
The report, which provides a comprehensive analysis of global electricity production highlights a shift towards cleaner energy sources in both the OECD and Belgium.
In March 2023, total net electricity production in the OECD reached 887.8TWh, representing a 1.5% decrease compared to the same period in 2022.
Analysts note that the decline was primarily driven by lower electricity production from fossil fuel sources, which experienced an 8.1% year-to-date decrease.
Furthermore, nuclear power production also saw a notable decline of 3.1% year-to-date.
This decrease surpassed the levels observed at the start of the Covid-19 lockdowns in April 2020, according to the IEA’s report.