Wholesale gas prices collapsed at the end of 2022, making gas-fired power generation profitable in Europe for the first time in months. But the economics of gas power plants remain extremely challenged, while those of renewables are still much more compelling.

As the EU looks to phase out Russian gas and coal following the Ukraine invasion, our analysis shows there is a strong economic incentive for an immediate switch to clean energy.

Including fossil gas undermines the credibility and usability of the EU green taxonomy. We discuss the economic and climate implications of this approach, with datavis.