Global energy investment totalled more than USD 1.9 trillion in 2021, with the power and end-user sectors attracting more investment than traditional fuel production
Energy markets focus on the trade and supply of electricity, gas and liquid fuels. They consist of three main elements: generation or production, transmission and distribution, and supply. Once electricity is generated or gas and oil is produced, it is sold on the wholesale market to suppliers, who sell it on to consumers and arrange for its delivery. It is distributed to homes and businesses through transmission and distribution systems. Depending on a country’s government policy, these elements of energy markets may be nationalised or privatised. Energy markets are closely regulated to ensure secure access to energy at fair prices, since energy is a necessity for sustained economic output and human welfare. Energy markets in the UK are privatised and regulated by the Office of Gas and Electricity Markets (Ofgem), which is responsible for protecting the interest of consumers by promoting fair competition. UK energy markets have recently experienced significant changes due to diversification of electricity generation through the rise of renewable energy sources, as well as the addition of many new suppliers.
Around the world, investments in the energy system are shifting, with increasing funds flowing into renewables, grid flexibility mechanisms, and low carbon transport. An appropriate policy and regulatory environment is required for continued investment towards a low carbon economy while maintaining energy security. The low carbon transition often requires the government to drive and guide private spending since investments in low carbon energy infrastructure are often capital-intensive and require long-term returns. There is growing need for new market structures to be defined and existing ones to play different roles in order to encourage low carbon investments across all sectors of energy, while also keeping the energy system stable and conventional sources flowing. Increased interconnection is also an option for moving towards more sustainable and cost-effective energy systems; integration of national energy systems through cross-border infrastructure can redefine investment agendas.
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of a 530 billion USD investment in new power generation in 2021 is expected to be invested in renewables (IEA)
One US dollar
spent on wind and solar PV in 2021 generates four times more electricity than the same investment ten years ago (IEA)
of UK energy professionals cite the need to invest in upskilling and retraining to meet the needs of the energy transition (Energy Barometer 2021)
package was launched in April 2022 in the UK to support innovative energy technologies which will further strengthen the UK’s energy security (BEIS)
Sustainable aviation fuel continues to take off
US airline operator United has unveiled plans to triple its use of SAF in 2023. It recently began using a blend of SAF on departing flights from San F...
Ireland’s first licensing round awards 3 GW of offshore wind
ORESS is an auction-based process which invites renewable energy projects to compete against each other, by bidding as low as possible, in order to wi...
Proposed US CCS projects need ‘careful review’
IEEFA has consistently opposed the retrofit of coal-fired power plants with CCS, believing that the technology ‘does not work as promised’ and has ‘hi...
Six Scottish pumped storage hydro projects could create 15,000 jobs
The report by Scottish Renewables and BiGGAR Economics studied the economic impact of six pumped storage hydro projects currently in development in Sc...
Australia plans to get a head start on hydrogen
The Hydrogen Headstart programme will provide revenue support for investment in large-scale Australian-based projects producing either hydrogen from r...
Events and training
UK Energy Policy Debate: Reform of Electricity Market Arrangements
This July our Energy Policy Debate is back exploring the 'Reform of Electricity Market Arrangements'. This timely debate looks at the Review of Electr...
BIEE Research Conference 2023
20/09/2023 - 21/09/2023
Energy matters for all: from global actors to active consumers
Introduction to Oil and Gas - October 2023
09/10/2023 - 10/10/2023
This 2-day training course provides delegates with an overview of principal activities in the international upstream, midstream and downstream petrole...
Economics of the Oil and Gas Industry - October 2023
16/10/2023 - 17/10/2023
A 2-day introduction to the economics of the oil and gas industry. This course is suitable for students who are new to the oil and gas industry.
Introduction to LNG – December 2023
04/12/2023 - 05/12/2023
This 2-day training course provides an introduction to the LNG chain. Suitable for students who are new to the LNG sector and/or those with a non-tech...
Technical guidance publications
Research report: Application of life cycle assessment methodology to the understanding of the energy balance and efficiency of hydrogen value chain building blocks
This document is free to download for registered users.This publication explores the efficiencies of the hydrogen energy system and quantifies the ene...
Waste to products – Technology and economic assessment (phase 1)
This document is free to download for registered users.The EMG and Soil Wastes and Groundwater group (SWG) of the EI and Concawe have commissioned E4t...
Guidelines for the assessment of ageing and life extension of non-metallic components in the offshore oil and gas industry, volume 2: composite equipment and repairs
This document captures industry good practice, knowledge and learning on these elements of composite materials. This guidance will provide a star...
Best available techniques (BAT): Good practice for the oil and gas industry
This guidance has been produced to inform good practice when undertaking best available techniques (BAT) assessments for offshore combustion equipment...
EI 1588. Laboratory tests and minimum performance levels for aviation fuel water barrier filters
This publication provides general mechanical specifications for new aviation fuel water barrier filter elements for use only on mobile aircraft fuelli...