-
Coal 2025 Prices and costs
…t. The price of 6 000 kcal/kg coal at the Amsterdam Rotterdam Antwerp ports (ARA) including cost, insurance and freight (CIF) averaged USD 101/t in 2025, down 10% y-o-y but still about 12% higher than the 2017-2019 average of USD 90/t. South China including cost and freight (CFR) (5 500 kcal/kg) averaged USD 83/t in 2025, 20% lower than in 2024, yet still approximately 9% above the 2017-2019 average of USD 76/t.The most pronounced y-o-y price adjustment occurred at Newcastle, reflecting softer supply–demand dynamics for high-CV seaborne coal in the Pacific Basin. While…
- Executive summary
- Demand
- Supply
- Trade
-
+ 2 pages
-
Electricity 2026 Executive summary
…accounting for nearly 80% of additional electricity consumption through 2030. While India and Southeast Asia are increasingly set to drive rising energy demand over the coming decade, China is forecast to remain the single largest contributor to global electricity demand growth through 2030, accounting for close to 50% of the increase. Over the next five years, China alone is expected to add demand equivalent to the total electricity consumption of the European Union (EU) today, with average growth of 4.9% annually. This is close to its 2025 pace of 5% but slower than its 6.5% average over the…
- Executive summary
- Demand
- Supply
- Grids
-
+ 4 pages
-
State of Energy Policy 2026 Government energy spending
…however, have seen declines in spending locally, largely driven by shifts towards market-based mechanisms, with more than ten countries launching capacity auctions for solar PV and wind over the past five years. Notably, China reduced its renewables subsidies and phased out feed-in tariffs for new projects in 2025. Similarly, Germany’s corresponding budget position was paused in 2022 and 2023 due to high electricity prices, and the United States enacted legislation in July 2025 to end its solar and wind tax credits for new projects starting in 2026. In contrast, the United Kingdom allocated an all-time high allocation…
-
Electricity 2026 Supply
…Coal-fired generation remained relatively flat in 2025, following a 1.4% increase in 2024. Declines in China and India were offset by gains in the United States, Eurasia and other Asian markets. Natural gas-fired output grew by around 0.5% y-o-y, a moderation from the 2.2% in 2024, amid gas-to-coal switching in various regions due to higher gas-prices compared to 2024. Nuclear generation was up 1.2% y-o-y, supported by restarts in Japan, higher output in France, and newly commissioned reactors in China and other countries. By contrast, oil-fired...
- Executive summary
- Demand
- Supply
- Grids
-
+ 4 pages
-
Electricity 2026 Emissions
…reduced emissions from electricity generation in India and China were largely offset by increases in the United States, other Asia Pacific (excluding India and China), Eurasia and the Middle East. India saw a decline of 3.3% y-o-y as coal-fired generation contracted amid moderate demand growth and strong renewables expansion. China saw a slight decrease of around 1%. In the European Union, emissions from electricity generation fell by 2.2%. By contrast, US emissions increased by 4.3% due to higher coal-fired generation.Between 2026 and 2030, China’s CO₂ emissions from electricity generation are forecast…
- Executive summary
- Demand
- Supply
- Grids
-
+ 4 pages
-
Global Energy Review 2026 Key findings
…75 mb/d of growth. The increase in both years, which was in line with IEA projections, remained well below the average annual rise between 2010 and 2019 of 1.4 mb/d. The slower increase mainly reflected weaker growth in petrochemical feedstocks, notably in China, while continued growth of electric vehicles kept oil demand for road transport in check. Electric car sales continued their rapid growth, climbing over 20% to more than 20 million units – around one quarter of new car sales in 2025.Gas demand growth slowed markedly in 2025, rising by around 1%, down from the 2.8…
- Key findings
- Global trends
- Oil
- Natural gas
-
+ 9 pages
-
Global Energy Review 2026 Global trends
…modern renewable source contributed the largest share of the growth in global energy demand. Natural gas followed, meeting around 17% of global demand growth. Oil contributed around 15%, followed by solid bioenergy and waste. Coal demand growth slowed, due to declines in China and India. In all, low-emissions sources contributed nearly 60% of total energy demand growth. This was despite almost no growth in hydropower due to poor hydrological conditions in some major regions. Demand for each of the three fossil fuels grew in 2025, albeit at a slower rate than in 2024. Coal demand increased by 0.4%…
- Key findings
- Global trends
- Oil
- Natural gas
-
+ 9 pages
-
Global Energy Review 2026 Oil
…1.4 mb/d, offering further evidence of a structural deceleration in oil markets.This slowdown mainly reflected weaker growth in petrochemical feedstock use. Demand for naphtha, liquefied petroleum gas (LPG) and ethane – the major raw materials for plastics consumption – lagged most clearly in the second quarter of 2025 as trade turmoil weighed on international trade and disrupted key US exports to Chinese chemical plants. The full-year increase of 1.2% was well below the 2.6% recorded in 2024, when feedstocks accounted for the largest share of the overall rise in oil use.In 2025, the growth of…
- Key findings
- Global trends
- Oil
- Natural gas
-
+ 9 pages
-
Global Energy Review 2026 Electricity supply
…about 600 TWh. About 55% took place in China, but growth was otherwise broad-based geographically.Annual nuclear generation reached a record high following strong growth in 2024. Output grew by 1.2% in 2025, the result of reactor restarts in Japan, the strong performance of plants in France, and new units that began operations in several countries.Global coal‑fired generation dipped slightly in 2025, following an increase of 1.4% in 2024. The slight decline was in part due to unusual regional patterns. Unlike in recent years, coal-fired electricity output fell in both China and India, while it…
- Key findings
- Global trends
- Oil
- Natural gas
-
+ 9 pages
-
Global Energy Review 2026 Technology: Solar PV and wind
…40% globally, setting a new record at around 160 GW, despite ongoing supply chain challenges. Solar PV and wind set new records in key markets, while China continued to drive global renewable deployment Renewable capacity expansion in China continued to increase in 2025, reaching a new record with nearly 500 GW of additions, accounting for over 60% of global growth. Last year, China alone commissioned nearly 370 GW of solar PV and 117 GW of wind capacity – 13% and 48% higher, respectively, than in 2024. The country’s shift from long-term fixed tariffs to competitive auctions, effective June 2025…
- Key findings
- Global trends
- Oil
- Natural gas
-
+ 9 pages