-
Electricity Market Design
Building on strengths, addressing gaps Electricity markets play a central role in balancing supply and demand, guiding operational decisions and shaping investment outcomes. As systems change with higher shares of variable generation, greater decentralisation and evolving patterns of electricity use, the ability of market designs to deliver secure and affordable electricity has never been more critical. If market arrangements do not keep pace with these developments, the functioning of electricity systems could become more uncertain and more costly.This report provides a cross-regional assessment of how wholesale electricity markets and their complementary policy mechanisms are performing today. We find…
-
Oil Market Report - January 2026
…rebound in Russian production. World oil supply is now projected to rise by 2.5 mb/d this year to 108.7 mb/d, following an increase of 3 mb/d in 2025. Non-OPEC+ accounts for 1.8 mb/d of the gains in 2025 and 1.3 mb/d in 2026.Global refinery crude throughputs surged by 2 mb/d to 85.7 mb/d in December, ahead of 1Q26 seasonal maintenance in the United States, Europe, the Middle East and Asia. Crude runs are forecast to average 84.6 mb/d for 2026, with annual growth of…
-
Global Critical Minerals Outlook 2025 Regional snapshots
Policymakers have woken up to these energy security challenges with a wave of new policy initiatives Governments around the world are intensifying efforts to secure critical mineral supplies through public funding, strategic partnerships and domestic policy reforms. In Europe, regulatory support and investments have ramped up to support critical mineral supply, supported by national investment funds and cross-border partnerships. North America is leveraging financial incentives to stimulate private-sector investment. Latin America, rich in critical minerals, is projected to reach USD 154 billion in mining and refining value amid regulatory reforms to attract foreign capital. China, already dominant, is…
-
Renewables in District Energy
This report examines how renewables can play a larger role in district energy systems, helping to deliver cleaner, more secure and more efficient heating and cooling. District energy networks already supply heat to around 600 million people worldwide, but many systems remain heavily dependent on fossil fuels, exposing consumers and utilities to price volatility, supply risks and high emissions.The report provides a global overview of district energy systems, their fuel mixes, market conditions, governance models and affordability implications. It explores the growing opportunities offered by renewable and recovered heat sources, including bioenergy, geothermal, solar thermal, waste heat, large-scale heat…
-
Heat Pump Taxonomy
A common framework for heat pumps classification and data Heat pumps are a cornerstone technology for achieving secure, affordable and sustainable heating. They have become one of the most common heating technologies and have the potential to impact significantly future trends for energy consumption in buildings and beyond.Tracking and analysing the pace of heat pump deployment compared to that of conventional heating technologies is essential for understanding future needs with regards to energy demand, investments in electricity infrastructure and fuel supply.Despite their growing importance, data on heat pump installations, as well as on their performance and cost, remain…
-
World Energy Investment 2025 United States
…Meanwhile, investment in clean energy has grown rapidly supported by policy and more competitive prices. These factors have spurred new manufacturing investments reaching USD 60 billion in 2024 and were further bolstered by initiatives that aimed to enhance domestic competitiveness and attract foreign direct investment. The United States is now home to 8% of global lithium-ion battery production and in 2024 solar PV module manufacturing capacity nearly tripled to 42 GW.With a boom in Artificial Intelligence (AI), and subsequent investment in data centres (DC), companies are racing to secure sources of clean electricity. This has led to a surge…
-
China’s Official Energy Finance in Emerging and Developing Economies
Evolving institutions, instruments and implications for clean energy transitions Global energy investment exceeded USD 3.3 trillion in 2025, but capital flows remain uneven. Emerging market and developing economies (EMDE) outside China attracted just 27% of total energy investment and 18% of clean energy spending, despite accounting for nearly two-thirds of the global population and the bulk of future demand. Addressing this imbalance requires mobilising more capital from diverse sources into EMDE energy systems.China continues to play a central role in global energy investment flows because of its large domestic investments and its large external capital spending on energy. Since…
-
International collaboration continues to power innovation in energy technologies
International collaboration continues to power innovation in energy technologies For 50 years, Technology Collaboration Programmes have played a crucial part in advancing international energy goals Throughout history, collaboration among researchers and experts across countries has been a motor of innovation in energy technologies. By advancing our understanding of energy fundamentals, improving the efficiency and quality of existing processes and materials, and supporting the development of frontier technologies that strengthen the energy security and sustainability, this coordination has accelerated progress and shed new light on the implications of innovative technologies around the world.An understanding that energy technology innovation can play…
-
How global oil supplies have readjusted to help fill the huge gap left by the Strait of Hormuz shock
…all-time high of $144 per barrel – more than double its pre-war levels, with even steeper gains recorded for jet fuel and diesel.Prices have since eased significantly as demand has fallen sharply, and on increased optimism that a deal would be reached to enable more regular shipping flows through the Strait. The new agreement last week between the United States and Iran, which aims to reopen the Strait and provide the foundation for a lasting peace, is a crucial breakthrough on this front, with signs of exports already increasing since the deal was agreed.The supply disruptions and…
-
State of Energy Policy 2026 Executive summary
Governments are navigating a sustained period of risks and disruptions In recent years, energy has been elevated to a core issue of national and economic security. Global supply chain disruptions after the Covid‑19 pandemic, Russia’s full-scale invasion of Ukraine, trade restrictions on key products including critical minerals, several years of extreme heat affecting energy systems and conflicts affecting major energy suppliers have unfolded in successive waves over the past five years. These events have brought long-standing energy security concerns back into sharp focus while exposing new vulnerabilities. They also highlight energy’s central role in geopolitics, with…
