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Security and Reliability of Supply Through Competitive Energy Markets

Security and Reliability of Supply Through Competitive Energy Markets. Mr. Didier HOUSSIN, Director, Energy Markets and Security International Energy Agency. Gas and electricity in OECD countries. Incremental OECD Electricity production compared to previous year.

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Security and Reliability of Supply Through Competitive Energy Markets

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  1. Security and Reliability of Supply Through Competitive Energy Markets Mr. Didier HOUSSIN, Director, Energy Markets and Security International Energy Agency

  2. Gas and electricity in OECD countries Incremental OECD Electricity production compared to previous year Incremental OECD gas demand compared to previous year Source: IEA, Monthly Electricity Statistics Source: IEA, Monthly Gas Data Service Electricity generation in OECD countries has declined by 5.2% over the first 6 months compared to the same period last year Gas demand has declined by 6.5% (53 bcm) during the same period.

  3. Investing in a World of Uncertainties • Uncertainties about future energy demand, electricity technologies and gas import requirements • Uncertainties about the development of upstream resources in the world • Regulatory uncertainties • Financial uncertainties

  4. New Gas Infrastructure Targeting Europe Source: IEA, NGMR 09

  5. Achieving Comprehensive Energy Security • Well-functioning, flexible markets are the best way to assure security of supply • Countries should review its gas market and gas security policies and improve individual emergency preparedness • IEA could contribute • By monitoring progress in gas market and gas security policy, • Developing crisis scenarios and conduct emergency response exercises and reviews, • Encouraging collective approaches

  6. The Path to a Low Carbon World World primary energy demand by fuel and scenario in 2030 Source: Early excerpt of WEO 2009 for Bangkok UNFCCC meeting

  7. Key Messages • Deep emission cuts are technically achievable but an ‘energy revolution’ is needed • Developing Countries must be part of the solution • Barriers: public opposition; financing needs; slow capital stock turnover; timeliness of technology development • For energy security and climate change mitigation • Must invest in low carbon technologies: energy efficiency, renewables, CCS and nuclear must all be embraced • The economic & financial crisis has sharply reduced investment all the way down the energy supply chain, from production to end use • This will have far-reaching effects on energy security, climate change and energy poverty • The current crisis is an opportunity to place a Clean Energy New Dealat the heart of economic stimulus packages everywhere

  8. Thank you for your attention

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