IEA Examines Efforts to Ensure a Secure, Sustainable and Affordable Energy Supply

(Paris) — 13 December 2002

The International Energy Agency (IEA) today published Energy Policies of IEA Countries - 2002 Review, an essential source of information and analysis of energy policy and market developments in the Member countries of the IEA.

The study looks at major trends in the energy markets, notably the renewed interest in energy security. This reflects various factors, notably higher, and more volatile energy prices, growing geopolitical concerns in the Middle East, recognition of the importance of adequate market design learned from the lessons of the Californian power crisis, and the implications of the terrorist attacks on 11 September 2001.

Energy Policies of IEA Countries - 2002 Review notes that in many Member countries, reform in the electricity and gas markets has continued to progress. Reform activity has been weak elsewhere however, particularly in the United States as a consequence of California.

The Review notes that by the end of September 2002, 95 countries had ratified the Kyoto Protocol, including all the EU countries and Japan. It also notes that while few IEA Member countries have achieved their commitment to reduce their greenhouse gas emissions back to 1990 levels by 2000, all are actively developing new policies with the aim of reducing emissions in the most cost-effective manner. Over the past five years, renewable energy has made considerable progress in technology, cost reduction and market penetration. Most IEA countries have now set clear targets for the penetration of renewable energy as well as the supporting instruments needed to make progress towards those goals.

The Review includes in-depth reviews of the energy policies of Denmark, Germany, Greece, Korea, Norway, the United Kingdom and the United States. Shorter reviews of policy developments in Canada, France, Luxembourg, the Netherlands, Portugal and Sweden are also included. Each Member country is reviewed in depth every four years. Regular peer reviews have contributed substantially over the years to policy-making at the national level. The report also assesses developments in non-Member countries, including China, India and Russia, and in regions such as Southeast Asia, Latin America, Central and Southeast Europe, the Baltic republics and the Middle East.

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