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Electricity Market Design Executive summary
…systems. These developments reinforce the importance of market arrangements that ensure efficient resource co-ordination while supporting stable long-term investment.Recent system stresses have underscored the importance of durable market design that can withstand a wide range of system conditions. Higher financing costs, supply chain constraints, network development delays and broader geopolitical pressures have all contributed to a more uncertain operating environment. Since 2019, many jurisdictions have seen annual wholesale market price volatility at five to nine times 2019 levels. In Europe in 2021, triggered by the sudden and drastic reduction in Russian pipeline gas deliveries to Europe, wholesale…
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Gas 2025 Executive summary
…of natural gas – including in price-sensitive emerging import markets.The analytical framework underpinning the medium-term outlook in this report is structured around a base case, which is complemented by a high case that explores the potential for greater demand response to possible price changes. The base case reflects current project plans, policy settings and economic growth projections, as well as prices informed by the current forward curve. The high case assumes that LNG import prices move closer towards the short-run marginal cost of US LNG supply and unlock additional gas demand, especially in price-sensitive Asian markets…
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Energy Transition Review for Enhancing Co-operation
…of renewables in the power generation mix to 35% by 2030 and 50% by 2040 – up from the 22% achieved in 2024. These objectives are articulated in the Philippine Energy Plan (PEP) 2023-2050, Volume II: Transitioning to Reliable, Clean, and Resilient Energy (hereafter “Philippine Energy Plan”) and the Power Development Plan (PDP) 2023-2050, which emphasise renewable deployment, energy efficiency, grid modernisation and resilient infrastructure. Natural gas is being positioned as a transition fuel that supports the shift from coal towards higher shares of renewables, while nuclear energy is being reconsidered as a stable, low-emissions source of electricity. Achieving...
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Gas Market Lessons from the 2022-2023 Energy Crisis Conclusion and lessons learned
…suited to replacing the global gas swing production capacity lost during the crisis. With fewer supply-side response options available, the global gas market finds itself with fewer tools to recover quickly from sudden or unexpected shifts in fundamentals.At the heart of the crisis, governments implemented measures that were key in supporting alternative or existing supply-side flexibility tools, including minimum storage obligations in the European Union and the Strategic Buffer LNG scheme in Japan. Flexibility levers such as these, while not intended to replace lost forms of swing production, aim to improve market resilience in case of supply…
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China
China’s growing energy needs are increasingly met by renewables, natural gas and electricity. The scale of China’s future electricity demand and the challenge of decarbonising the power supply help explain why global investment in electricity overtook that of oil and gas for the first time in 2016, and why electricity security is moving firmly up the policy agenda. That said, cost reductions for renewables are not sufficient on their own to secure efficient decarbonisation or reliable supply.
Between 2019 and 2024, China will account for 40% of global renewable capacity expansion, driven by improved system integration, lower curtailment…- Overview
- Energy mix
- Emissions
- Electricity
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Argentina
…variable renewables, taking advantage of its rich solar and wind resources. The country has set a goal for non-hydro renewables to reach 20% of the power mix by 2025 and recent efforts have triggered increased deployment (2021: 12.5%).
Argentina is the world’s fourth largest lithium producer, a mineral critical for the manufacture of battery storage systems and, therefore, for the energy transition. Argentina is among the first Latin American countries to achieve universal electricity access, with a successful programme on rural electricity markets accelerating the connection of remote last miles users to the grid in recent years.- Overview
- Energy mix
- Emissions
- Electricity
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India
Energy demand in India is growing rapidly with major implications for the global energy market. The Government of India has made remarkable progress in providing access to electricity and clean cooking while implementing a range of energy market reforms and integrating a high share of renewable energy sources into the grid. India, with a population of 1.36 billion and a fast growing economy, has seen its energy demand increasing rapidly as the country continues to urbanize and the manufacturing sector develops. This growing demand is met through various energy sources, with coal set to remain the largest source of…
- Overview
- Energy mix
- Emissions
- Electricity
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The Value of Demand Flexibility
…of existing generation and network assets, reduces peak stress, lowers losses and curtailment, and supports more efficient integration of clean energy. It also delivers wider benefits, including enhanced energy security, lower system and consumer costs, and reduced emissions, when appropriately enabled and valued.The policy brief identifies key trends driving the need for flexibility, the main barriers limiting its uptake, and priority areas for policy action. It concludes that integrating demand flexibility alongside energy efficiency within regulatory, market and planning frameworks is essential to delivering secure, affordable and efficient power systems, while maximising the value of existing and future investments.
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Financing the ASEAN Power Grid
The Association of Southeast Asian Nations (ASEAN) has a long history of electricity system connectivity, and the development of the ASEAN Power Grid (APG) is central to achieving a sustainable, secure and affordable energy transition across the region. Delivering the APG will require a significant step‑change in investment over the coming 15 years, and unlocking financing from a diverse range of sources will be essential for this to happen. Yet financing approaches and business models have not evolved at the pace required to support an increasingly ambitious and complex pipeline of interconnector projects.This report examines how interconnectors are approached…
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Scaling Up Demand Flexibility
…initiative to examine the growing importance of demand flexibility in electricity systems amid rising demand, increased renewable energy integration and the electrification of power systems. Case studies in chronological order to examine the changing role of demand flexibility over time from South Africa (2025), Thailand (2030) and Ireland (2035) demonstrate how demand flexibility improves reliability, reduces costs, supports renewables integration and manages network constraints. To realise these benefits, the report emphasises the role for smart technologies, inclusive policies, regulatory reforms and consumer engagement to scale flexibility and move away from emergency interventions, towards a more strategic and efficient system capability.
