Electricity Market
Report 2023INTERNATIONAL ENERGY AGENCY
The IEA examines the full spectrum of energy IEA member countries: Spain
issues including oil, gas and coal supply and Australia Sweden
demand, renewable energy technologies,
electricity markets, energy efficiency, access toAustria Switzerland
energy, demand side management and much Belgium Republic of Türkiye
more. Through its work, the IEA advocates CanadaUnited Kingdom
policies that will enhance the reliability,
affordability and sustainability of energy in its 31 Czech Republic United States
member countries, 11 association countries and Denmark
beyond.Estonia The European Commission
Finland also participates in the work
Franceof the IEA
Germany
This publication and any map included herein areIEA association countries:
without prejudice to the status of or sovereigntyGreece
over any territory, to the delimitation ofHungary Argentina
international frontiers and boundaries and to theIreland Brazil
name of any territory, city or area.ItalyChina
JapanEgypt
KoreaIndia
Lithuania Indonesia
Luxembourg Morocco
MexicoSingapore
NetherlandsSouth Africa
New ZealandThailand
NorwayUkraine
Poland
Source: IEA.
International Energy Agency Portugal
Website: iea Slovak Republic Electricity Market Report 2023Abstract
Abstract
Electricity is central to many parts of life in modern societies and will
become even more so as its role in transport and heating expands
through technologies such as electric vehicles and heat pumps.
Power generation is currently the largest source of carbon dioxide
(CO2) emissions globally, but it is also the sector that is leading the
transition to net zero emissions through the rapid ramping up of
renewables such as solar and wind. At the same time, the current
global energy crisis has placed electricity security and affordability
high on the political agenda in many countries.
The International Energy Agency’s Electricity Market Report 2023
offers a deep analysis of recent policies, trends and market
developments. It also provides forecasts through 2025 for electricity
demand, supply and CO2 emissions – with a detailed study of the
evolving generation mix. This year’s report contains a
comprehensive analysis of developments in Europe, which faced a
variety of energy crises in 2022. The Asia Pacific region also
receives special focus, with its fast-growing electricity demand and
accelerating clean energy deployment.
The IEA’s Electricity Market Report has been published since 2020.
Its relevance goes beyond energy and climate issues, since
electricity supply impacts economies, regional development, the
budgets of businesses and households, and many other areas. It is
indispensable reading for anyone interested in the multifaceted
importance of energy in our economies and societies today.
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IEA. CC BY 4.0. CC BY IEA.Electricity Market Report 2023 Table of contents
Table of contents
Executive summary ............ 5
Global overview ................ 11
Demand ............. 12
Supply ............... 20
Emissions ................. 31
Wholesale prices ............. 34
Carbon pricing trends ............. 38
Regional perspectives............. 41
Asia Pacific ............... 42
Americas .................. 63
Europe ............... 74
Eurasia .............. 93
Middle East .............. 99
Africa ............... 108
General annex ................. 118
BY 4 .0.
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IEA. CCElectricity Market Report 2023 Executive summary
Executive summary
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IEA. CC BY 4.0. CC BY IEA.