Luxembourg, which currently relies on imported electricity to meet around 80% of its energy demand, has observed a modest decline in its dependence on foreign power sources.

During the first quarter of 2023, electricity imports decreased by 8% compared to the same period in 2022. This reduction can mainly be attributed to the energy crisis, which resulted in a 9% decline in electricity consumption during the first four months of this year compared to the previous year.

Nevertheless, there is a positive outlook for reducing the reliance on imports in the future due to the flourishing renewable energy sector, particularly wind and photovoltaic production. In Q1, renewable energy production experienced a significant 16% year-on-year growth.

Furthermore, with ambitious plans to triple the capacity of renewable energy sources by 2030, the reliance on imported electricity is expected to further diminish.

However, it is important to note that the anticipated 30% increase in the electrification of Luxembourg's economy by 2030 may result in a subsequent rise in electricity consumption.

At present, renewable energy sources are gradually replacing a portion of the "controllable" electricity production derived from combustion power stations. In Q1, the production from these power stations saw a year-on-year decline of 40%.