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


Association of Southeast Asian Nations


California Independent System Operator


combined cycle gas turbine


cooling degree days


carbon dioxide


Erneuerbare Energien Gesetz


Electric Reliability Council of Texas


European Union Emissions Trading System


gross domestic product


greenhouse gas


heating degree days


high-voltage direct current


International Energy Agency


India Electricity Exchange


International Monetary Fund


independent system operator


Lao People’s Democratic Republic


light-emitting diode


liquefied natural gas


Organisation for Economic Co‑operation and Development


Organization of the Petroleum Exporting Countries


Power System Operation Corporation (India)


power purchase agreement


Renewable Energy Independent Power Producer Procurement Programme (South Africa)


Regional Greenhouse Gas Initiative




Title Transfer Facility


value added tax


variable renewable energy


World Health Organization


year-on-year (compared to the same period of the previous year)

Units of measurement


barrels per day








kilowatt hour


million British thermal units


million tonnes of CO2 equivalent per year






tonne of CO2 equivalent




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 (

  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.

  2. Including Hong Kong.

  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.

  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.

  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”.

  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.

  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.

  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.