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IEA (2020), Electricity Market Report - December 2020, IEA, Paris https://www.iea.org/reports/electricity-market-report-december-2020, Licence: CC BY 4.0
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Regional and country groupings
Africa – Algeria, Angola, Benin, Botswana, Cameroon, Congo, Democratic Republic of the Congo, Côte d’Ivoire, Egypt, Eritrea, Ethiopia, Gabon, Ghana, Kenya, Libya, Morocco, Mozambique, Namibia, Nigeria, Senegal, South Africa, Sudan, United Republic of Tanzania, Togo, Tunisia, Zambia, Zimbabwe and other African countries and territories.1
Asia Pacific – Australia, Bangladesh, Brunei Darussalam, Cambodia, Chinese Taipei, India, Indonesia, Japan, Korea, Democratic People’s Republic of Korea, Lao People’s Democratic Republic, Malaysia, Mongolia, Myanmar, Nepal, New Zealand, Pakistan, People’s Republic of China,2 Philippines, Singapore, Sri Lanka, Thailand, Viet Nam and other Asian countries, territories and economies.3
Central and South America – Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Trinidad and Tobago, Uruguay, Venezuela and other Latin American countries and territories.4
Eurasia – Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Republic of Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.
Europe – Albania, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus,5,6 Czech Republic, Denmark, Estonia, Finland, North Macedonia, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Kosovo,7 Latvia, Lithuania, Luxembourg, Malta, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey and United Kingdom.
European Union – Austria, Belgium, Bulgaria, Croatia, Cyprus,5,6 Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain and Sweden.
Middle East – Bahrain, Islamic Republic of Iran, Iraq, Israel,8 Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syrian Arab Republic, United Arab Emirates and Yemen.
North Africa – Algeria, Egypt, Libya, Morocco and Tunisia.
North America – Canada, Mexico and the United States.
Southeast Asia – Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand and Viet Nam. These countries are all members of the Association of Southeast Asian Nations (ASEAN).
Advanced economies – OECD member nations, plus Bulgaria, Croatia, Cyprus, Malta and Romania.
Emerging markets and developing economies – All other countries not included in the advanced economies regional grouping.
Abbreviations and acronyms
|
ASEAN |
Association of Southeast Asian Nations |
|
CAISO |
California Independent System Operator |
|
CCGT |
combined cycle gas turbine |
|
CDDs |
cooling degree days |
|
CO2 |
carbon dioxide |
|
EEG |
Erneuerbare Energien Gesetz |
|
ERCOT |
Electric Reliability Council of Texas |
|
EU ETS |
European Union Emissions Trading System |
|
GDP |
gross domestic product |
|
GHG |
greenhouse gas |
|
HDDs |
heating degree days |
|
HVDC |
high-voltage direct current |
|
IEA |
International Energy Agency |
|
IEX |
India Electricity Exchange |
|
IMF |
International Monetary Fund |
|
ISO |
independent system operator |
|
Lao PDR |
Lao People’s Democratic Republic |
|
LED |
light-emitting diode |
|
LNG |
liquefied natural gas |
|
OECD |
Organisation for Economic Co‑operation and Development |
|
OPEC |
Organization of the Petroleum Exporting Countries |
|
POSOCO |
Power System Operation Corporation (India) |
|
PPA |
power purchase agreement |
|
REIPPP |
Renewable Energy Independent Power Producer Procurement Programme (South Africa) |
|
RGGI |
Regional Greenhouse Gas Initiative |
|
PV |
photovoltaics |
|
TTF |
Title Transfer Facility |
|
VAT |
value added tax |
|
VRE |
variable renewable energy |
|
WHO |
World Health Organization |
|
y-o-y |
year-on-year (compared to the same period of the previous year) |
Units of measurement
|
b/d |
barrels per day |
|
GW |
gigawatt |
|
GWh |
gigawatt-hour |
|
km |
kilometre |
|
kWh |
kilowatt hour |
|
MBtu |
million British thermal units |
|
MtCO2-eq/yr |
million tonnes of CO2 equivalent per year |
|
MW |
megawatt |
|
MWh |
megawatt-hour |
|
tCO2eq |
tonne of CO2 equivalent |
|
TWh |
terawatt-hour |
Acknowledgements, contributors and credits
This publication has been prepared by the Gas, Coal and Power Markets (GCP) Division of the International Energy Agency (IEA). The publication was led and co-ordinated by Stefan Lorenczik, Energy Analyst for Electricity.
Stefan Lorenczik, Paulina Becerra Zavala and Peter Fraser are the main authors. The report also benefited from analysis, data and input from Carlos Fernandez Alvarez, Fabian Arnold, Rosie Collins, Jean-Baptiste Dubreuil, Samir Jeddi, Songho Jeon, Akos Losz, Bence Marmarosi, Gergely Molnar and Tomoko Uesawa.
Keisuke Sadamori, Director of the IEA Energy Markets and Security (EMS) Directorate, and Peter Fraser, Head of GCP, provided expert guidance and advice.
Other IEA colleagues provided important contributions, including António Carvalho, Cyril Cassisa, Louis Chambeau, Mathilde Daugy, Szilvia Doczi, Keith Everhart, Julia Guyon, Craig Hart, Zoe Hungerford, Kazuhiro Kurimi, Sara Moarif, JunGyu Park, Julian Prime, Luca Lo Re, Céline Rouquette, Gabriel Saive, Enrique Gutierrez Tavarez, and Peerapat Vithayasrichareon.
Further IEA colleagues provided valuable comments and feedback, in particular Heymi Bahar, Christophe Barret, Sylvia Beyer, Aad van Bohemen, Laura Cozzi, Alejandro Hernandez, Nick Johnstone, Julian Prime, Keisuke Sadamori, and Brent Wanner.
Timely and comprehensive data from the Energy Data Centre were fundamental to the report. The work of António Carvalho, Louis Chambeau, Mathilde Daugy, Julia Guyon, Francesco Mattion, Domenico Lattanzio, JunGyu Park, and Gabriel Saive, under the leadership of Julian Prime and Céline Rouquette is much appreciated.
The authors would also like to thank Justin French-Brooks for skilfully editing the manuscript and the IEA Communication and Digital Office, in particular Astrid Dumond, Christopher Gully, Jad Mouawad and Therese Walsh.
Our special thanks go to the reviewers from various countries and organisations who provided valuable comments. Any error or omission is the responsibility of the IEA.
Additionally, the report benefited from the insights of Mr Rajesh K Mediratta, of IEX.
For questions and comments, please contact GCP (gcp@iea.org).
References
Individual data are not available and are estimated in aggregate for: Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Comoros, Djibouti, Gambia, Equatorial Guinea, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Niger, Reunion, Rwanda, Sao Tome and Principe, Seychelles, Sierra Leone, Somalia, Eswatini and Uganda.
Including Hong Kong.
Individual data are not available and are estimated in aggregate for: Afghanistan, Bhutan, Cook Islands, Fiji, French Polynesia, Kiribati, Macau (China), Maldives, New Caledonia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu.
Individual data are not available and are estimated in aggregate for: Includes Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Falkland Islands (Malvinas), Grenada, Guyana, Montserrat, Saba, Saint Eustatius, Saint Kitts and Nevis, Saint Lucia, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sint Maarten and the Turks and Caicos Islands.
Note by Turkey: The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no single authority representing both Turkish and Greek Cypriot people on the Island. Turkey recognises the Turkish Republic of Northern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of United Nations, Turkey shall preserve its position concerning the “Cyprus issue”.
Note by all the European Union member states of the OECD and the European Union: The Republic of Cyprus is recognised by all members of the United Nations with the exception of Turkey. The information in this document relates to the area under the effective control of the Government of the Republic of Cyprus.
The designation is without prejudice to positions on status, and is in line with the United Nations Security Council Resolution 1244/99 and the Advisory Opinion of the International Court of Justice on Kosovo’s declaration of Independence.
The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD and/or the IEA is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.
Reference 1
Individual data are not available and are estimated in aggregate for: Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Comoros, Djibouti, Gambia, Equatorial Guinea, Guinea, Guinea-Bissau, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Niger, Reunion, Rwanda, Sao Tome and Principe, Seychelles, Sierra Leone, Somalia, Eswatini and Uganda.
Reference 2
Including Hong Kong.
Reference 3
Individual data are not available and are estimated in aggregate for: Afghanistan, Bhutan, Cook Islands, Fiji, French Polynesia, Kiribati, Macau (China), Maldives, New Caledonia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu.
Reference 4
Individual data are not available and are estimated in aggregate for: Includes Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Falkland Islands (Malvinas), Grenada, Guyana, Montserrat, Saba, Saint Eustatius, Saint Kitts and Nevis, Saint Lucia, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sint Maarten and the Turks and Caicos Islands.
Reference 5
Note by Turkey: The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no single authority representing both Turkish and Greek Cypriot people on the Island. Turkey recognises the Turkish Republic of Northern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of United Nations, Turkey shall preserve its position concerning the “Cyprus issue”.
Reference 6
Note by all the European Union member states of the OECD and the European Union: The Republic of Cyprus is recognised by all members of the United Nations with the exception of Turkey. The information in this document relates to the area under the effective control of the Government of the Republic of Cyprus.
Reference 7
The designation is without prejudice to positions on status, and is in line with the United Nations Security Council Resolution 1244/99 and the Advisory Opinion of the International Court of Justice on Kosovo’s declaration of Independence.
Reference 8
The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD and/or the IEA is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.