Belgium Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2021-2030
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This report discusses the power market structure of Belgium and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the country’s power market regulatory structure, competitive landscape, and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential. An analysis of the deals in the country’s power sector is also included in the report.
Belgium power market overview
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Belgium to phase out nuclear power by 2025
Nuclear power holds a significant share in Belgium’s power generation mix. In 2000, nuclear power capacity was 5.7 GW, which increased to 5.9 GW in 2020. As of November 2021, the country had 7 operational nuclear power reactors, majority of which are owned and managed by Electrabel SA and Luminus SA. By 2024, nuclear power capacity is expected to decline to 3.9 GW before being phased out altogether by 2025. Belgium’s nuclear phase out is based on legislation passed in 2003 that prohibited the building of new reactors and limiting the service lives of existing ones to 40 years. In September 2020, the Belgian Government signed an agreement reaffirming its policy to phase out nuclear power in the country by 2025. Under the plan, Doel 3 and Tihange 2 will be shut down in 2022 and 2023, respectively. The newer nuclear power reactors Doel 4 and Tihange 3 will be shut down by 2025. The phase out of nuclear power in the country will pave a way for the rapid growth of renewables as well as gas-fired capacity.
How is the Belgium power market structured?
The Commission for the Regulation of Electricity and Gas (CREG) is the federal regulator for Belgium on federal matters relating to the proper functioning of the electricity and gas markets. The commission’s major functions are supervising transparency and competition in the electricity markets, approving the transmission tariffs of the Transmission System Operator (TSO) Elia, and supervising technical transmission regulations, and ensuring that market conditions are in the general interest and in line with general energy policy. There are regional energy regulators for regulating the electricity markets at the regional level. These are Flanders Electricity and Gas Market Regulator, Wallonia Energy Commission, and Brussels Energy Regulator. These regional regulators are responsible for organization and operation of the regional electricity and natural gas markets at the distribution level, approving distribution network tariffs, and organizing a mediation service for consumers in the event of problems with their supplier or Distribution System Operator (DSO).
Who are the key players in the Belgium power market?
The power generation segment in Belgium is dominated by Electrabel SA, Luminus SA, and Electricite de France SA. The transmission system in the country is operated by Elia, which was formed following the legal unbundling of the power generation and transmission systems, and it is responsible for the transmission of electricity from generators to distribution system operators through a high-voltage network. The company’s primary responsibilities include maintaining and developing the transmission network, connecting power plants to the grid, providing smooth access to the grid, monitoring electricity flow, and maintaining a balance between the generation and consumption of power.
Belgium power market, by key companies
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Where are the opportunities in the Belgium power market?
Belgium’s rapidly expanding renewable power market will offer many investment opportunities. Non-hydro renewable power accounted for more than 45% of installed capacity in 2020 and is expected to account for around more than 60% in 2030. Most of the opportunities are expected to emerge in the sectors for the newer upcoming renewable technologies, such as geothermal and offshore wind.
What are the challenges faced by the Belgium power market?
Rapid phase out of nuclear power may endanger the supply security of the country. In 2020, nuclear power held a share of more than 35% in Belgium’s generation mix. This share is expected to sharply drop to become negligible in 2026. The country will have to rapidly scale up the deployment of renewable and thermal power capacities to fill this void created by the nuclear power phase out.
How has COVID-19 affected the Belgium power market?
Belgium was significantly affected due to the COVID-19 pandemic in 2020. To curb the spread of COVID-19, the Belgian government imposed strict national lockdowns in the country. Majority of the sectors in the country were affected due to these lockdowns; however, tourism and hospitality sector was the most badly affected.
With respect to power sector, the electricity consumption in the country declined in 2020 as compared to 2019. Electricity demand from industrial and commercial sectors declined significantly due to national lockdowns. The Walloon government offered support to the citizens by providing a one-off payment to pay their electricity bills.
Market report scope
Cumulative power capacity (Year – 2020) | 25.2 GW |
Base year for estimation | 2020 |
Market overview by | Capacity & generation, and transmission & distribution |
Forecast period | 2021–2030 |
Key companies | Electrabel SA, Luminus SA, and Electricite de France SA. |
This report provides a comprehensive analysis of the power market in Belgium and contains the following sections:
- The executive summary captures the key trends in the country’s power market.
- The “Belgium Power Market, Snapshot” section provides a snapshot of the key parameters that affect the country’s power sector, as well as key points about the country’s power market including opportunities, challenges, and the impact of COVID-19.
- The “Belgium Power Market, Market Analysis” section provides the market structure, generation market share, deals, and demand structure.
- The “Belgium Power Market, Regulatory Scenario” section details the regulations and policies in the country’s power sector.
- The “Belgium Power Market, Capacity and Generation” section provides information on cumulative installed capacity and annual generation trends, by individual generation source.
- The “Belgium Power Market, Transmission and Distribution Overview” section discusses the power T&D infrastructure, electricity import and export, and grid interconnections.
- The “Belgium Power Market, Major Generating Companies” section discusses the major electricity generating companies in the country.
Reasons to Buy
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector
- Identify key factors driving investment opportunities in the country’s power sector
- Facilitate decision-making based on strong historic and forecast data
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business development avenues
- Identify key strengths and weaknesses of important market participants
- Respond to your competitors’ business structure, strategy, and prospects
Table of Contents
Table
Figures
Frequently asked questions
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What is Belgium’s total cumulative power capacity?
Belgium’s total cumulative power capacity in 2020 was 25.2 GW.
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Who are the major power generation companies in Belgium’s power market?
The power generation segment in Belgium is dominated by Electrabel SA, Luminus SA, and Electricite de France SA.
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What is the leading source of power capacity in Belgium?
Renewable power was the dominant source of power in 2020, accounting for more than 45% of total installed capacity.
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Who regulated Belgium’s energy policy?
The commission for the Regulation of Electricity and Gas (CREG) is the federal regulator for Belgium on federal matters relating to the proper functioning of the electricity and gas markets.
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What is the annual power consumption in Belgium?
Power consumption increased from 77.5 TWh in 2000 to 80 TWh in 2020, growing at a CAGR of 0.2%.
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What sector is the leading driver of Belgium’s power consumption?
In 2020, industrial sector had the dominant share in power consumption accounting for more than 45%.
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Who owns and operates Belgium’s transmission network?
The transmission system in Belgium is operated by Elia, which was formed in 2001 and appointed as the federal transmission system operator by royal decree for a 20-year period from September 18, 2002.
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