Highly volatile electricity prices are becoming a more frequent and unwanted characteristic of modern electricity wholesale markets. But low demand elasticity, mainly the result of a lack of incentives and consumers’ inability to control demand, means that consumer behaviour is not reflected...

This book analyses the most recent developments in security of gas supply and reliability in all IEA regions. Reform has led to open markets, where supply and demand are balanced by the market. In the gas sector, supply is capacity-bound and large parts of the demand side are inelastic. The...

Carbon dioxide capture and storage (CCS) technologies can drastically reduce future CO2 emissions. This IEA study introduces a scenario analysis of the future role of CCS and presents the main uncertainties that surround a CCS policy strategy. It provides detailed estimates of the likely CO2...

Electric power in OECD countries is mostly produced by large central generating stations, then transmitted along high voltage lines to local distribution systems that carry it to final consumers. Distributed generation plants are different. They produce power on an electricity consumer’s own...

In most IEA Member countries, natural gas demand varies strongly during the year, according to temperature. Flexibility is needed to cover seasonal swings and variations in gas demand, especially for household customers. This book analyses how new flexibility tools and mechanisms are developing...

Our climate is changing. Less certain, however, is the timing and magnitude of climate change, and the cost of transition to a low-carbon world. This book identifies how climate change policy uncertainty may affect investment behaviour in the power sector. For power companies, where capital...