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 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.