Fossil fuels remain an important player in Europe’s power mix
Outlook 2022: Fossil fuels still have generation role to play
Extreme price volatility as electricity systems adapt to greater intermittent renewable penetration serves as a reminder of the role legacy assets still have to play
We have experienced a year of great change and volatility in global energy markets, as the world has gradually recovered from the Covid-19 pandemic. Power generation from renewable sources took on greater importance as countries looked to meet their net zero requirements, coal plants were phased out and many countries relied on gas-fired generation as a transitional resource when the wind did not blow or the sun did not shine. Soaring gas prices—due mainly to reduced supplies and higher demand as the world came out of the pandemic—regularly put electricity systems under pressure. The wholesale price of gas in December 2021 was approximately five times that of December 2020. Are these trends
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
