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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Policy recommendations for the coming 2-3 years
Prioritise deployment of renewables to boost energy security and create an enabling environment for future hydrogen development Ukraine currently lacks adequate power generation capacity and restoring energy security must be a priority. Any activity focused on accelerating deployment of renewables will have positive spillover effects for hydrogen, by building experience across the workforce and companies and helping to build confidence among potential investors. This will also indirectly reduce the cost of capital by reducing the uncertainties related with renewable electricity generation. Similarly, any efforts related to permitting and administrative processes for renewables can also support the creation of standardised processes…
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Global Energy Review 2026 Oil
Oil demand growth remained subdued in 2025 Oil demand increased in 2025 by 0.65 mb/d (million barrels per day) or 1.2 EJ, but this 0.7% rise marked a further slowdown from 2024’s already-muted 0.75 mb/d of growth. The increase in both years was in line with IEA projections. The 2025 increase fell well short of the 2010-19 average annual rise of 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…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Scaling Up Transition Finance Financial institutions and transition finance
A complementary source of finance for transitions Transition finance rests on a practical partnership between corporates and financiers. Successful transitions need finance that goes where the emissions are; this means moving beyond the top performers and working with corporates with material environmental footprints that commit to transition strategies. A common alternative strategy, in which financial institutions simply shift emissions off their balance sheets, creates “financial carbon leakage” and does not reduce real-economy emissions.An IEA survey of financial institutions revealed that differences in regional taxonomies and frameworks pose challenges for cross-border financing. At the same time, it highlighted…
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Alexander De Croo
Prime Minister. Alexander De Croo is Prime Minister of Belgium and former Finance Minister.
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Edwin de Palma
Minister of Mines and Energy.
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Financing Electricity Access in Africa Pathway to universal access
Mobilising the necessary investment Under the new Accelerating Clean Cooking and Electricity Services Scenario (ACCESS), investment of nearly USD 150 billion is needed to achieve universal electricity access in sub-Saharan Africa by 2035. This represents a six-fold increase in annual spending from today’s levels, facilitated by improvements to the regulatory environment, strengthened risk management by developers and risk-mitigation tools to support more private investment, and a more targeted use of concessional funds.Around 45% of households currently without access are connected via the grid under the ACCESS scenario, with financial support for households to reduce connection fees and…
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Coal 2025 Prices and costs
Prices Coal prices averaging lower in 2025 than in previous years After unprecedented prices in 2021 and 2022 amid the energy crisis, coal prices continued to be higher than the pre-Covid levels throughout 2023 and 2024. Prices for different coal qualities generally move in tandem, as partial substitution is possible. Thermal coal is mainly consumed in power generation and in this section is classified into low-CV (CV below 4 200 kcal/kg), mid-CV (CV between 4 200 kcal/kg and 5 700 kcal/kg) and high-CV (CV above 5 700 kcal/kg) categories. In some cases, direct substitution between grades is feasible, and blending…
- Executive summary
- Demand
- Supply
- Trade
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+ 2 pages
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Sheltering From Oil Shocks Summary
The conflict in the Middle East has created the largest supply disruption in the history of the global oil market, due to the near halt in shipping traffic through the Strait of Hormuz. Some 15 million barrels of crude oil and 5 million barrels of oil products typically traversed the Strait each day, equivalent to around 20% of global oil consumption. These flows have slowed to a trickle. The loss of supply is having significant impacts in global markets, pushing up prices for crude oil above $100/barrel, and leading to much higher prices for some refined products – notably diesel…
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China’s Official Energy Finance in Emerging and Developing Economies Case 7. Palembang waste-to-energy plant
Project overview and impact Indonesia faces a dual challenge of rapidly growing waste volumes and persistent electricity supply constraints. The country generates around 65 million tonnes of waste annually, yet only about 20% is formally treated, and most cities rely heavily on landfills. In 2017, the government designated 12 priority cities for accelerated waste-to-energy (WTE) development, including Palembang, and introduced preferential feed-in tariffs and guaranteed waste-tipping fees to attract private investment. Despite this, only two WTE plants, Surabaya’s Benowo PLTSa and Surakarta’s Putri Cempo PLTSa, both on Java island, were operational before 2024, highlighting…
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Financing Electricity Access in Africa State of play
Understanding electricity access financing As of 2024, around 600 million people in sub-Saharan Africa (47% of the population) did not have access to electricity. With electrification barely keeping up with population growth rates, progress remains far off the pace envisaged both by African governments and international organisations. Reaching universal access requires a cost-effective, multi-technology approach, with grid extension, mini-grids and stand-alone systems all playing a role to ensure affordable service provision to unelectrified communities. Notably, financing has been one of the primary impediments to growth.For the first time, the IEA has tracked electricity access financing commitments…