AFRY Independent Market Reports are the definitive guide to the future of energy markets. We are the leading supplier of independent long-term price projections for energy markets, and consistently testified by our clients to be an independent, trusted and bankable viewpoint. We provide in-depth market intelligence and long-term price projections for electricity, gas, carbon and other commodities.
Interested in a specific AIM Report? Select your preferred energy markets using the request form below.
Market coverage
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- Europe
- Middle East, Asia and Africa
- Americas
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Country
Report title
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Albania
Wholesale Electricity Price Projections for Albania
Flyer - Our latest market report for Albania:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Albanian market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Armenia
Wholesale Electricity Price Projections for Armenia
Flyer - For further details on the market report for Armenia , please contact Philip Gueorguiev (philip.gueorguiev@afry.com)
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Australia
Wholesale Electricity Price Projections for Australia
Flyer - Our latest market report for Australia:
• Presents our annual projections for wholesale electricity prices out to 2050 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; commodity prices; interconnection constraints; developments in technology costs and electrification; and regulatory and policy development.
• Delivers in-depth market intelligence, including insights into: government policy and regulation, and renewable subsidy support schemes. -
Austria
Wholesale Electricity Price Projections for Austria
Flyer - Our latest market report for Austria:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Azerbaijan
Wholesale Electricity Price Projections for Azerbaijan
Flyer - In our latest market report for Azerbaijan, we expand on:
• How the generation mix will develop in the next decades and what the key RESE technologies will be.
• How the capacity margin evolves over the long run, and whether the country remains a net exporter.
• What the prospects for private party involvement regarding investments in renewables are.
• Via which measures Azerbaijan proceeds towards further market liberalisation.
This report:
• Presents our annual projections for wholesale electricity prices out to 2040 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Azerbaijan market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Bahrain
Wholesale Electricity Price Projections for Bahrain
Flyer - For further details on the market report for Bahrain, please contact our team at mcd.me@afry.com
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Bangladesh
Wholesale Electricity Price Projections for Bangladesh
- For further details on the market report for Bangladesh, please contact Pongpatchara Pongpiriyakan (pongpatchara.p@afry.com)
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Belgium
Wholesale Electricity Price Projections for Belgium
Flyer - In our latest market report for Belgium, we explore:
• How will the 2030 targets from the PNEC, the Federal Energy Pact and the long-term Federal strategy drive changes in the Belgian electricity mix where resources tend to be limited?
• What other measures will be available to guarantee system adequacy?
• What revenue streams will be accessible for market participants (thermal, renewable electricity generators, flexibility providers) for new projects?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Bosnia and Herzegovina
Wholesale Electricity Price Projections for Bosnia and Herzegovina
Flyer - Our latest market report for Bosnia and Herzegovina:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Bosnian and Herzegovinian markets).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Brazil
Wholesale Electricity Price Projections for Brazil
Flyer - For further details on the market report for Brazil, please contact Ignacio Cobo (ignacio.cobo@afry.com)
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Bulgaria
Wholesale Electricity Price Projections for Bulgaria
Flyer - Our latest market report for Bulgaria:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Cambodia
Wholesale Electricity Price Projections for Cambodia
- For further details on the market report for Cambodia, please contact Marnix Schrijner (marnix.s@afry.com)
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AESO, Canada
Wholesale Electricity Price Projections for AESO
- For further details on the market report for AESO, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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IESO, Canada
Wholesale Electricity Price Projections for IESO
Flyer - For further details on the market report for IESO, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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Central and Eastern Europe Region
Electricity Market Study for Central Eastern Europe
Flyer - Our latest market report for Central and Eastern European (CEE) which covers the markets for Austria, Czech Republic, Hungary, Slovakia, and Slovenia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Chile
Wholsesale Electricity Price Projections for Chile
Flyer - In our latest market report for Chile, we explore:
• How will the renewable targets shape the future Chilean electricity mix?
• What difficulties are renewable generation projects facing and what action is being proposed in response?
• What are the key provisions of the newly introduced energy transition law?
• What revenue streams will be accessible for market participants (thermal and renewable electricity generators) for existing and new projects?
This report:
• Presents our annual projections for wholesale electricity prices out to 2050 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; and potential future renewable subsidy support schemes.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the transport sector. -
China
Wholesale Electricity Price Projections for China
Flyer - In our latest market report for China, we explore:
• How will the government planning and policy environment shape the Chinese electricity system and markets in the coming years?
• How will competitive markets affect the electricity price and system operation?
• What revenue streams are available to renewable developers, how are they accessed, and how could they change under the market reform?
• How will the range of transformations underway impact on market participants?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate electricity system decarbonisation trajectory in China.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation, including the Five-Year Plan; renewable subsidy support schemes; and the national carbon market.
• Is based on highly detailed modelling from our suite of worldwide commodity models -
Colombia
Wholesale Electricity Price Projections for Colombia
Flyer - In our latest market report for Colombia, we explore:
• How will the commissioning of Hidroituango impact the electricity price?
• How far can the penetration of non-conventional renewables get in Colombia?
This report:
• Presents our annual projections for wholesale electricity prices out to 2050 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in Colombia, including: the commissioning of Hidroituango; weather patterns, to capture the effect of El Niño and of wet years on prices; commodity (gas, coal, oil products) prices; and developments in technology costs and demand.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; and the evolution of the reliability charge and the corresponding incentive for generators.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Croatia
Wholesale Electricity Price Projections for Croatia
Flyer - Our latest market report for Croatia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Cyprus
Wholesale Electricity Price Projections for Cyprus
- For further details on the AIM report for Cyprus, please contact Kostas Theodoropoulos (kostas.theodoropoulos@afry.com) and Asimina Karakyriakou (asimina.karakyriakou@afry.com)
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Czech Republic
Wholesale Electricity Price Projections for the Czech Republic
Flyer - Our latest market report for the Czech Republic:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Denmark
Wholesale Electricity Price Projections for the Nordic countries
Flyer - In our latest Nordic electricity market report we explore:
• At what pace, where, and under which enablers, will the build-out of new renewable generation and new demand take place?
• What role will carbon-free technology, flexible demand and flexible supply play?
• How will price convergence between the 12 Nordic price areas evolve?
• What are the main risks and uncertainties to the Nordic price projections? -
Egypt
Wholesale Electricity Price Projections for Egypt
Flyer - For further details on the market report for Egypt, please contact our team at mcd.me@afry.com
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Estonia
Wholesale Electricity Price Projections for the Baltic countries
Flyer - In our latest market report for the Baltic countries which covers the markets Estonia, Latvia, and Lithuania, we explore:
• How will the aims and policies of the three Baltic countries shape the Baltic electricity market in the coming years?
• How will the desynchronisation from Russia affect electricity trade with neighbouring countries and price convergence in the Baltic region?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). AFRY’s modelling of the Baltic countries includes 20 weather variations run for every modelled future year in order to best represent the behaviour of Nordic prices, which is a core driver of Baltic prices due to the large interconnection. Our model has a detailed treatment of reservoir hydro dispatch under uncertainty of inflows using Stochastic Dynamic Programming (SDP), similar to the method used by most producers that operate in the Nordic market.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Finland
Wholesale Electricity Price Projections for the Nordic countries
Flyer - In our latest Nordic electricity market report we explore:
• At what pace, where, and under which enablers, will the build-out of new renewable generation and new demand take place?
• What role will carbon-free technology, flexible demand and flexible supply play?
• How will price convergence between the 12 Nordic price areas evolve?
• What are the main risks and uncertainties to the Nordic price projections? -
France
Wholesale Electricity Price Projections for France
Flyer - In our latest market report for France, we explore:
• What will happen to the current nuclear-dominant generation mix after the retirement of ageing reactors? Will new reactors be commissioned and when?
• How will the latest local and European regulation impact the French market?
•Can France meet its renewable deployment targets and how will this affect wholesale electricity prices?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Great Britain
Wholesale Electricity Price Projections for Great Britain
Flyer - In our latest market report for Great Britain, we explore:
• The drivers behind recent high gas and electricity prices.
• How we project electricity prices will evolve to 2060.
• Key drivers impacting this and our modelled view on their evolution to 2060. This includes gas and carbon prices, the capacity mix and electricity demand.
• Government policies and regulations creating risks and / or opportunities for electricity generators in GB.
• How the evolving capacity mix will impact future Capacity Market clearing prices.
• Background to the GB electricity market, including the key players, current trading arrangements, and potential development.
• Options for generators to sell electricity, and risks and opportunities to consider with each.
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Georgia
Wholesale Electricity Price Projections for Georgia
Flyer - Our latest market report for Georgia:
• Presents our annual projections for wholesale electricity prices out to 2040 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Georgian market from 2029).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Germany
Wholesale Electricity Price Projections for Germany
Flyer - In our latest market report for Germany, we explore:
• How will the closure of nuclear and coal transform the German electricity mix?
• Is the current legislated renewables support and the measures stated in the ‘Climate Protection Program 2030’ sufficient to achieve the new 2030 renewables target?
• The latest renewable tender results and the outlook for new projects.
• What potential revenue sources are accessible to thermal and renewable electricity generators for new projects?
• What are the latest market design changes in order to support the integration of renewables?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Greece
Wholesale Electricity Price Projections for Greece
Flyer - In our latest market report for Greece, we answer the essential questions for those interested in the Greek electricity market:
• What are the key imminent changes in the Greek market?
• What is the outlook for renewables and conventional thermal generation?
• What is the future level of electricity prices and capacity payments?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Hungary
Wholesale Electricity Price Projections for Hungary
Flyer - Our latest market report for Hungary:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
India
Wholesale Electricity Price Projections for India
Flyer - For further details on the market report for India, please contact Satya Galla (satya.galla@afry.com)
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Indonesia
Wholesale Electricity Price Projections for Indonesia
- For further details on the AIM report for Indonesia, please contact Benjamin Hammer (benjamin.hammer@afry.com)
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Ireland SEM
Wholesale Electricity Price Projections for the Irish Single Electricity Market
Flyer - In our latest market report for Ireland, we explore a number of relevant questions, including:
• How will electrification of the heat and transport sectors affect the SEM?
• What impact on prices and wind curtailment is expected from further renewables?
• Will the DS3 and Capacity Markets deliver the necessary generation capacity?
• What is the outlook for thermal assets in a market dominated by renewables?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Israel
Wholesale Electricity Price Projections for Israel
Flyer - For further details on the market report for Israel, please contact our team at mcd.me@afry.com
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Italy
Wholsesale Electricity Market Price Projections for Italy
Flyer - In our latest market report for Italy, we explore:
• How will the energy transition transform the energy market and who will be the winning technologies?
• What are the performances of the different generators in this new framework?
• How will the difference between market zones be tackled in the framework of this renewable revolution?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Japan
Wholesale Electricity Price Projections for Japan
- For further details on the AIM report for Japan, please contact Marnix Schrijner (marnix.s@afry.com)
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Jordan
Wholesale Electricity Price Projections for Jordan
Flyer - For further details on the market report for Jordan, please contact our team at mcd.me@afry.com
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Kazakhstan
Wholesale Electricity Price Projections for Kazakhstan
Flyer - Our latest market report for Kazakhstan:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Kazakhstani market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Kenya
Wholesale Electricity Price Projections for Kenya
Flyer - For further details on the market report for Kenya, please contact our team at mcd.me@afry.com
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Kosovo
Wholesale Electricity Price Projections for Kosovo
Flyer - Our latest market report for Kosovo:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for Kosovar market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Laos
Wholesale Electricity Price Projections for Laos
- For further details on the market report for Laos, please contact Benjamin Hammer (benjamin.hammer@afry.com)
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Latvia
Wholesale Electricity Price Projections for the Baltic countries
Flyer - In our latest market report for the Baltic countries which covers the markets Estonia, Latvia, and Lithuania, we explore:
• How will the aims and policies of the three Baltic countries shape the Baltic electricity market in the coming years?
• How will the desynchronisation from Russia affect electricity trade with neighbouring countries and price convergence in the Baltic region?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). AFRY’s modelling of the Baltic countries includes 20 weather variations run for every modelled future year in order to best represent the behaviour of Nordic prices, which is a core driver of Baltic prices due to the large interconnection. Our model has a detailed treatment of reservoir hydro dispatch under uncertainty of inflows using Stochastic Dynamic Programming (SDP), similar to the method used by most producers that operate in the Nordic market.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Lithuania
Wholesale Electricity Price Projections for the Baltic countries
Flyer - In our latest market report for the Baltic countries which covers the markets Estonia, Latvia, and Lithuania, we explore:
• How will the aims and policies of the three Baltic countries shape the Baltic electricity market in the coming years?
• How will the desynchronisation from Russia affect electricity trade with neighbouring countries and price convergence in the Baltic region?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). AFRY’s modelling of the Baltic countries includes 20 weather variations run for every modelled future year in order to best represent the behaviour of Nordic prices, which is a core driver of Baltic prices due to the large interconnection. Our model has a detailed treatment of reservoir hydro dispatch under uncertainty of inflows using Stochastic Dynamic Programming (SDP), similar to the method used by most producers that operate in the Nordic market.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
North Macedonia
Wholesale Electricity Price Projections for North Macedonia
Flyer - Our latest report for North Macedonia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our threeinternally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass through assumptions for North Macedonia).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Peninsular Malaysia
Wholesale Electricity Price Projections for Peninsular Malaysia
- For further details on the AIM report for Peninsular Malaysia, please contact Ibrahim Ariffin (ibrahim.ariffin@afry.com)
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Mexico
Wholesale Electricity Price Projections for Mexico
Flyer - In our latest market report for Mexico, we explore:
• How might renewables grow and what effect would this have on capture prices?
• What are the effects of intermittency on power prices and the capacity mix?
• What will the future hold for the electricity sector?
This report:
• Presents our annual projections for wholesale electricity prices out to 2045 for our three internally consistent scenarios (High, Central and Low) for the main market products: electricity prices; clean Energy Certificates “CELs”; and capacity balancing market prices.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; demand and commodity prices; short-term gas constraints; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; detailed overview of the market framework; long term energy auctions; CEL price; and market on-watch topics.
• Is based on highly detailed modelling from our suite of worldwide commodity models and Mexico specific modelling tools. -
Moldova
Wholesale Electricity Price Projections for Moldova
Flyer - (For further details on the market report for Moldova, please contact Philip Gueorguiev (philip.gueorguiev@afry.com)
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Montenegro
Wholesale Electricity Price Projections for Montenegro
Flyer - Our latest market report for Montenegro:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Montenegrin market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Morocco
Wholesale Electricity Price Projections for Morocco
Flyer - In our latest market report for Morocco, we explore:
• How will the electricity sector evolve?
• What will be the future of gas and coal generation?
• How fast will renewables emerge?
This report:
• Presents our annual projections for wholesale electricity prices out to 2050 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and carbon pricing.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Myanmar
Wholesale Electricity Price Projections for Myanmar
- For further details on the AIM report for Myanmar, please contact Pongpatchara Pongpiriyakan (pongpatchara.p@afry.com)
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The Netherlands
Wholesale Electricity Price Projections for the Netherlands
Flyer - In our latest market report for the Netherlands, we explore:
• The emergence of a pan-European hydrogen market
• The impact of the Dutch offshore wind roadmap
• The effects of our refreshed electricity demand analysis
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Nigeria
Wholesale Electricity Price Projections for Nigeria
Flyer - For further details on the market report for Nigeria, please contact Alan Whitaker (alan.whitaker@afry.com)
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Norway
Wholesale Electricity Price Projections for the Nordic countries
Flyer - In our latest Nordic electricity market report we explore:
• At what pace, where, and under which enablers, will the build-out of new renewable generation and new demand take place?
• What role will carbon-free technology, flexible demand and flexible supply play?
• How will price convergence between the 12 Nordic price areas evolve?
• What are the main risks and uncertainties to the Nordic price projections? -
Oman
Wholesale Electricity Price Projections for Oman
Flyer - For further details on the market report for Oman, please contact our team at mcd.me@afry.com
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Panama
Wholesale Electricity Price Projections for Panama
Flyer - In our latest market report for Panama, we explore:
• How new natural gas and coal facilities will affect medium-long term price projections?
• What is the expected PV and wind capacity to be installed in Panama up to 2040 on merchant basis?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Peru
Wholesale Electricity Price Projections for Peru
Flyer - In our latest market report for Peru, we explore:
• The issues around market arrangements for gas supply to CCGTs.
• The potential impact of the uncertain commissioning of the Gasoducto Sur Peruano on the generation mix and power prices.
• The expected development of renewables in the country.
This report:
• Presents our annual projections for wholesale electricity prices out to 2050 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the potential evolution of market rules and gas supply arrangements; the commissioning of the Gasoducto Sur Peruano pipeline; the evolution of demand; and commodity (gas, coal, oil products) prices.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; and renewable subsidy support schemes.
• Is based on highly detailed modelling from our suite of worldwide commodity models. -
Philippines
Wholesale Electricity Price Projections for the Philippines
- For further details on the AIM report for the Philippines, please contact JP Grayda (jp.grayda@afry.com)
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Poland
Wholesale Electricity Price Projections for Poland
Flyer - In our latest market report for Poland, we explore:
• How will the above mentioned regulatory and policy factors transform the Polish generation mix? What will be the pace at which coal will be replaced by alternative capacity? Which technologies will fill the gap?
• What are the prospects for renewables? What are the trends in their economics?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Portugal
Wholesale Electricity Price Projections for Portugal
Flyer - In our latest market report for Portugal, we explore:
• What drives merchant renewable profitability and what is its future outlook?
• What is the design of the Portuguese solar auctions?
• What is the impact of the record low bids in the Portuguese solar auction for the future of the system?
• Has the Portuguese system achieved financial sustainability?
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Qatar
Qatar Electricity & Water Market Report
Flyer - For further details on the market report for Qatar, please contact our team at mcd.me@afry.com
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Romania
Wholesale Electricity Price Projections for Romania
Flyer - Our latest market report for Romania:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Saudi Arabia
Saudi Arabia Electricity Market Report
Flyer - For further details on the market report for Saudi Arabia, please contact our team at mcd.me@afry.com
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Southeast Europe Region
Wholesale Electricity Price Projections for Southeast Europe
Flyer - Our latest market report for Southeast Europe which covers the markets for Bosnia and Herzegovina, Croatia, Hungary, Montenegro, Serbia and Slovenia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Senegal
Wholesale Electricity Price Projections for Senegal
Flyer - For further details on the market report for Senegal, please contact our team at mcd.me@afry.com
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Serbia
Wholesale Electricity Price Projections for Serbia
Flyer - In our latest market report for Serbia, we explore:
• the generation mix development in the next decades;
• key RES-E technologies to be added and their supporting incentive schemes;
• the capacity margin evolvement over the long run; and
• the dynamics of the wholesale electricity price under the impact of changes in the gas costs and the EU ETS scheme.
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions for the Serbian market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Singapore
Wholesale Electricity Price Projections for Singapore
- For further details on the AIM report for Singapore, please contact Wendy Yong (wendy.yong@afry.com)
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Slovakia
Wholesale Electricity Price Projections for Slovakia
Flyer - Our latest market report for Slovakia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Slovenia
Wholesale Electricity Price Projections for Slovenia
Flyer - Our latest market report for Slovenia:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
South Africa
Wholesale Electricity Price Projections for South Africa
Flyer - For further details on the market report for South Africa, please contact Alan Whitaker (alan.whitaker@afry.com) or Stephanie Awote (stephanie.awote@afry.com)
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South Korea
Wholesale Electricity Price Projections for South Korea
- For further details on the AIM report for South Korea, please contact Marnix Schrijner (marnix.s@afry.com) or david.plunkett@afry.com
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Spain
Wholesale Electricity Price Projections for Spain
Flyer - In our latest market report for Spain, we explore among other issues:
• Evolution of demand, commodities and electricity prices under 3 scenarios.
• How much renewable capacity will be built in Spain, considering decreasing LCOEs, market conditions, and the Spanish NECP targets? Will storage boom?
• How much capacity can be closed, how much is needed for security of supply?
• The rationale behind the PPA enthusiasm in the Spanish electricity system considering the risks and potential evolution of the market.
This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Spain
Renewable Hydrogen Report
Flyer - For further details on the Renewable Hydrogen Report for Spain, please contact Julia Dupuy (julia.dupuy@afry.com).
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Sri Lanka
Wholesale Electricity Price Projections for Sri Lanka
- For further details on the AIM report for Sri Lanka, please contact Wendy Yong (wendy.yong@afry.com)
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Sweden
Wholesale Electricity Price Projections for the Nordic countries
Flyer - In our latest Nordic electricity market report we explore:
• At what pace, where, and under which enablers, will the build-out of new renewable generation and new demand take place?
• What role will carbon-free technology, flexible demand and flexible supply play?
• How will price convergence between the 12 Nordic price areas evolve?
• What are the main risks and uncertainties to the Nordic price projections? -
Switzerland
Wholesale Electricity Price Projections for Switzerland
Flyer - This report:
• Presents our annual projections for wholesale electricity prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Taiwan
Wholesale Electricity Price Projections for Taiwan
- For further details on the AIM report for Taiwan, please contact Pongpatchara Pongpiriyakan (pongpatchara.p@afry.com)
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Tajikistan
Wholesale Electricity Price Projections for Tajikistan
- For further details on the market report for Tajikistan, please contact Philip Gueorguiev (philip.gueorguiev@afry.com)
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Thailand
Wholesale Electricity Price Projections for Thailand
- For further details on the AIM report for Thailand, please contact Pongpatchara Pongpiriyakan (pongpatchara.p@afry.com)
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Turkey
Wholesale Electricity Price Projections for Turkey
Flyer - In our latest market report for Turkey, we explore:
• What are the recent and expected changes in the energy market?
• How will a potential carbon market will affect the prices?
• How will the annual baseload prices develop?
This report:
• Presents our annual projections for wholesale electricity prices out to 2040 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (as a basis for a potential carbon market in Turkey).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
Turkmenistan
Wholesale Electricity Price Projections for Turkmenistan
- For further details on the market report for Turkmenistan, please contact Philip Gueorguiev (philip.gueorguiev@afry.com)
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United Arab Emirates
UAE Electricity & Water Market Report
Flyer - For further details on the market report for UAE, please contact our team at mcd.me@afry.com
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Ukraine
Wholesale Electricity Price Projections for Ukraine
Flyer - In our latest market report for Ukraine, we explore:
• The development of the electricity market and its integration into the European market.
• The prospects of the renewable energy sector given recent regulatory changes as well as the investment attractiveness of the sector for private parties.
This report:
• Presents our annual projections for wholesale electricity prices out to 2040 for our three internally consistent scenarios (High, Central and Low).
• Considers the main drivers of electricity prices in each scenario, including: the evolution of generation capacity mix; carbon and commodity prices; and developments in technology costs and electrification.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; renewable subsidy support schemes; and the EU Emissions Trading Scheme (with pass-through assumptions used for the Ukrainian market).
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors. -
CAISO, United States of America
Wholesale Electricity Price Projections for CAISO Market
Flyer - For further details on the market report for CAISO, please contact Hasan Tarique (hasan.tarique@afry.com) and Karthik Viswanathan (karthik.viswanathan@afry.com).
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ERCOT, United States of America
Wholesale Electricity Price Projections in ERCOT
Flyer - For further details on the market report for ERCOT, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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ISO-NE, United States of America
Wholesale Electricity Price Projections in ISO-NE
Flyer - For further details on the market report for ISO-NE, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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MISO, United States of America
Wholesale Electricity Price Projections in MISO
- For further details on the market report for MISO, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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NYISO, United States of America
Wholesale Electricity Price Projections in NYISO
Flyer - For further details on the market report for NYISO, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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PJM, United States of America
Wholesale Electricity Price Projections for the PJM Market
Flyer - For further details on the market report for PJM, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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SPP, United States of America
Wholesale Electricity Price Projections in SPP
- For further details on the market report for SPP, please contact Hasan Tarique (hasan.tarique@afry.com) and Alfredo Colaprete (alfredo.colaprete@afry.com).
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WECC, United States of America
Wholesale Electricity Price Projections in WECC
- For further details on the market report for WECC, please contact Hasan Tarique (hasan.tarique@afry.com) and Karthik Viswanathan (karthik.viswanathan@afry.com).
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Uzbekistan
Wholesale Electricity Price Projections for Uzbekistan
Flyer - (For further details on the market report for Uzbekistan, please contact Philip Gueorguiev (philip.gueorguiev@afry.com)
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Vietnam
Wholesale Electricity Price Projections for Vietnam
- For further details on the AIM report for Vietnam, please contact Pongpatchara Pongpiriyakan (pongpatchara.p@afry.com)
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EU ETS
Carbon Price Projections for the EU ETS
Flyer - In our latest market report for the European Union Emissions Trading Scheme (EU ETS), we explore:
• an overview of the EU ETS;
• key price risks and issues facing the market;
• key drivers of carbon prices; and
• our carbon price projections. -
Western Europe
Western European & Global Gas Supply Study
Flyer - In our latest market report for Western European and Global Gas, we explore:
• What is the range of potential European gas demand?
• How fast are European gas reserves declining? And, how will global gas production hold up in the longer term?
• What is the outlook for the wider global LNG market, both in terms of new supplies and new demand?
• How significant will the impact of decarbonisation be on European gas demand? And, how will this impact upon gas prices?
This report:
• Presents our annual projections for wholesale gas prices out to 2060 for our three internally consistent scenarios (High, Central and Low). These scenarios incorporate total energy system decarbonisation trajectories across the European electricity, heat and transport sectors.
• Considers the main drivers of gas prices in each scenario, including: the evolution of gas supply and demand; oil prices; and new sources of gas and their long-run costs.
• Delivers in-depth market intelligence, including insights into: government policy and regulation; new infrastructure under construction and planned; and the future balance of the global LNG market.
• Is based on highly detailed modelling from our suite of worldwide commodity models, including coverage of the heat and transport sectors.
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