Global Energy Perspectives: Europe power market review: 2022
25 January 2023
A disruptive series of macro events in 2022 has had a profound impact on the energy market that will be felt for many years to come.
The start of 2022 saw growing optimism, post-Covid, with positive economic and political conditions. The energy transition looked on a stable path, with broad commitment despite the shock of the pandemic. But a series of economic and political shocks have altered the macro environment markedly.
Our Global Energy Perspectives Team have analysed the changes in the energy power market between 2021 and 2022. In this report they start with a look at how the year began; with optimism and progress. They reflect on a year of disruption and volatility and set out the five main consequences for the power sector 2022 - 2030:
- Higher and more variable wholesale power prices
- Greater government interventions
- Accelerated transition
- Emissions outlook
- Greater profitability
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