Ireland’s economy is showing signs of stabilisation. End use energy demand recovered in 2013 for the first time since the 2008 crisis. Total final consumption grew marginally in 2013 to 11 Mtoe driven by higher transportation, residential and commercial demand. However, over six years on from the crisis GDP remains deeply depressed. End use demand is expected to continue recovering from 2015 onwards, but it will not reach pre-recession levels during our forecast period.
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Due to their sensitivity to political events and the global economy, energy demand and trade remain extremely volatile. The rapidly changing cost environment for hydrocarbon production and renewable energy, combined with energy policy changes, means the fuel mix in energy markets can be unpredictable at best. Further complicating the outlook is the transition and pace of the energy-intensive developing world from industrial to services-based economic growth, supporting the growing need for power generation.
This Energy Markets Long Term Outlook report provides a multi-fuel supply and demand forecast supported by a breakdown of the key facts.
Companies involved in all sectors of the energy industry can use this long term outlook report to assess inter-fuel dynamics and market drivers for strategic planning and investment opportunities. Use it to understand supply and demand fundamentals across hydrocarbon and renewables.
Analysing 92 markets and providing comprehensive coverage of global energy supply and demand, Wood Mackenzie is ideally placed to offer extensive expertise and robust knowledge of the energy markets sector. We write detailed supply and demand forecasts across all fuels and sectors based on our objective, proprietary data.
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Ireland energy markets outlook 2014 - overview
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