Energy Security

The clean energy transition is bringing a major structural change in the generation profile of electricity systems around the world. Variable renewable generation has already surged over the past decade, driven by cost reductions and favourable policy environments, a trend that is set to continue and even accelerate in line with climate change objectives. Meanwhile, conventional power plants, notably those using coal, nuclear and hydro, are stagnating or in decline. While proper policies can ensure reliable energy access during the transition, the diffuse and decentralized nature of much renewable generation does raise the risk of cyberattacks and many clean energy technologies rely on metals and minerals that are in tight supply or whose production is dominated by a limited number of nations.

In accordance with the Agreement on an International Energy Programme, each IEA country has an obligation to ensure it holds total oil stocks equivalent to at least 90 days of net oil imports. In case of a severe oil supply disruption, IEA members may decide to release these stocks to the market as part of a collective action.