The Future of Electricity in Fast-Growing Economies
Electricity markets in fast-growing economies face different challenges than those in more mature markets. Mature markets with stable demand for electricity are transitioning to a more sustainable mix of power generation technologies while continuing to support economic growth with affordable and secure power. Fast-growing markets are trying to serve voracious new demand for electricity as their economies grow, as more customers are connected to the grid and as per capita consumption grows.
This report recognizes the need for policy to balance the objectives in the Forum’s energy architecture triangle: security and accessibility, short- and medium-term affordability, and environmental sustainability. The fact that 1.2 billion people lacked access to electricity in 2012, combined with the scale of poverty, will inevitably focus attention on accessibility and affordability. But even as they make progress on achieving reliable universal access, fast-growing markets will need to develop roadmaps that take advantage of new technologies to make their power affordable while increasing environmental sustainability.
ORBIS is powered by ESPAS, the European Strategy and Policy Analysis System, a unique inter-institutional project aimed at strengthening the EU's efforts in the crucial area of forward planning. ESPAS brings together the European Commission, the European Parliament, the Secretariat General of the Council of the European Union and the European External Action Service to strengthen the Union's collective administrative capacity to identify and analyse the key trends and challenges, and the resulting policy choices, which are likely to confront Europe and the wider world in the decades ahead.