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Energy Policies of IEA Countries Luxembourg Energy Policies of IEA Countries Luxembourg 2014 Review 2014 OECD/IEA, © 2014 OECD/IEA, © Energy Policies of IEA Countries Luxembourg 2014 Review 2014 OECD/IEA, © INTERNATIONAL ENERGY AGENCY The International Energy Agency (IEA), an autonomous agency, was established in November 1974. Its primary mandate was – and is – two-fold: to promote energy security amongst its member countries through collective response to physical disruptions in oil supply, and provide authoritative research and analysis on ways to ensure reliable, affordable and clean energy for its 29 member countries and beyond. The IEA carries out a comprehensive programme of energy co-operation among its member countries, each of which is obliged to hold oil stocks equivalent to 90 days of its net imports. The Agency’s aims include the following objectives: n Secure member countries’ access to reliable and ample supplies of all forms of energy; in particular, through maintaining effective emergency response capabilities in case of oil supply disruptions. n Promote sustainable energy policies that spur economic growth and environmental protection in a global context – particularly in terms of reducing greenhouse-gas emissions that contribute to climate change. n Improve transparency of international markets through collection and analysis of energy data. n Support global collaboration on energy technology to secure future energy supplies and mitigate their environmental impact, including through improved energy efficiency and development and deployment of low-carbon technologies. n Find solutions to global energy challenges through engagement and dialogue with non-member countries, industry, international organisations and other stakeholders. IEA member countries: Australia Austria Belgium Canada Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Japan Secure Sustainable Together Korea (Republic of) Luxembourg Netherlands New Zealand Norway Poland Portugal 2014 Slovak Republic © OECD/IEA, 2014 Spain International Energy Agency Sweden 9 rue de la Fédération OECD/IEA, Switzerland © 75739 Paris Cedex 15, France Turkey www.iea.org United Kingdom Please note that this publication United States is subject to specific restrictions that limit its use and distribution. The European Commission The terms and conditions are available online at also participates in http://www.iea.org/termsandconditionsuseandcopyright/ the work of the IEA. Table of contents TABLE OF CONTENTS 1. EXECUTIVE SUMMARY AND KEY RECOMMENDATIONS .......................................................................... 7 Executive summary ...................................................................................................................... 7 Shaping progress .......................................................................................................................... 9 Key recommendations ...............................................................................................................12 PART I POLICY ANALYSIS .....................................................................................................15 2. GENERAL ENERGY POLICY......................................................................................................................17 Country overview .......................................................................................................................17 Supply and demand ...................................................................................................................19 Institutions .................................................................................................................................22 Key policies .................................................................................................................................23 Assessment ................................................................................................................................24 Recommendation .......................................................................................................................26 3. CLIMATE CHANGE ..................................................................................................................................27 Overview ....................................................................................................................................27 Energy-related CO2 emissions ....................................................................................................28 Institutions .................................................................................................................................30 Policies and measures ................................................................................................................31 GHG emissions, targets and projections ....................................................................................31 Assessment ................................................................................................................................38 Recommendations .....................................................................................................................39 4. ENERGY EFFICIENCY ...............................................................................................................................41 Total final consumption .............................................................................................................41 Institutions .................................................................................................................................44 Policies and measures ................................................................................................................44 Assessment ................................................................................................................................53 Recommendations .....................................................................................................................54 2014 3 OECD/IEA, © Table of contents PART II SECTOR ANALYSIS ...................................................................................................57 5. ELECTRICITY ...........................................................................................................................................59 Overview ....................................................................................................................................59 Supply and demand ...................................................................................................................59 Regulation ..................................................................................................................................64 Networks ....................................................................................................................................65 Combined heat and power ........................................................................................................68 Market structure ........................................................................................................................68 Retail market and prices ............................................................................................................71 Electricity security ......................................................................................................................76 Assessment ................................................................................................................................82 Recommendations .....................................................................................................................84 6. OIL ..........................................................................................................................................................87 Supply and demand ...................................................................................................................87 Oil market and infrastructure ....................................................................................................88 Oil prices and taxes ....................................................................................................................90 Security of oil supply ..................................................................................................................92 Assessment ................................................................................................................................92 Recommendations .....................................................................................................................93 7. NATURAL GAS ........................................................................................................................................95 Supply and demand ...................................................................................................................95 Natural gas infrastructure ..........................................................................................................96 Natural gas market structure and regulation ............................................................................98 Security of gas supply.................................................................................................................99 Natural gas prices .....................................................................................................................100
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