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Canada — Pool clearingUnited States — Pool clearingChina — Provincial transitionNorway — Pool clearingAustralia — Energy-only, exporter-coupledIndia — Exchange alongside PPAPhilippines — Pool clearingJapan — Pool clearingUnited Kingdom — Pool clearingFrance — Pool clearingSweden — Pool clearingSpain — Pool clearingItaly — Pool clearingMalaysia — Administered procurementGermany — Pool clearingFinland — Pool clearingDenmark — Pool clearingNetherlands — Pool clearingBelgium — Pool clearing AustraliaJapanSingaporePhilippinesIndiaChinaMalaysiaUnited StatesCanadaEurope · 11 marketsBelgiumDenmarkFinlandFranceGermanyItalyNetherlandsNorwaySpainSwedenUnited Kingdom

Country outlines: Natural Earth 4.1.0, 1:50m admin-0 boundaries — public domain. All countries are drawn; only markets with a published or classified pack are shaded. Dashed fill means classified but not yet published. The boundaries and names shown do not imply official endorsement or acceptance of any territorial position.

The Energy Map

Twenty markets. Five ways of forming a price.

The whole world, with the markets we cover shaded by how open the price formation is — green where a market clears the price, red where an administrator sets it. Hover a country, then use the rail below to see what that means for the analysis.

See the region-by-region detail, benchmarks and basis →

← Open · cleared by a marketRestricted · set by an administrator →
Australia
Norway
Netherlands
Singapore
United States
Canada
Japan
Philippines
India
China
Malaysia
How open is the price formation?
MOST OPEN
Energy-only pool
No capacity mechanism. Scarcity priced in the energy price.
OPEN
Pool clearing
Merit order, marginal clearing price, continuous series.
PARTIAL
Exchange + PPA
An exchange clears — but most volume never touches it.
IN TRANSITION
Provincial rollout
A market being built region by region, right now.
RESTRICTED
Administered
No auction, no clearing. A procurement cost.
Not covered — no pack published. Drawn, but not classified.

Hover or tap a shaded country to see how its price is formed — and which calculations are legitimate there.

Filled markers on the rail below are net exporters; hollow ones are importers.

Energy-only pool 1 Pool clearing 16 Exchange beside PPA 1 Provincial transition 1 Administered procurement 1 Administrator sets it Market clears it

How far a market has travelled. Each strand is one branch of price formation; the number at the end is how many of the twenty markets sit on it. Distance from the left edge is how much of the price a buyer or seller can actually influence.

↓

Every covered market

Same classification as the map and the rail, with the physical fleet behind each one. Capacity is installed generating capacity; the renewable share counts hydro, wind, solar, bioenergy and geothermal, and excludes nuclear. Click a row to open its market page.

MarketHow the price formsInstalled capacityRenewables, share of capacity
MalaysiaAdministered procurement39 GW202424%
ChinaProvincial transition3,890 GW202560%
IndiaExchange alongside PPA533 GW202652%
BelgiumPool clearing28.7 GW202460%
CanadaPool clearing152 GW202369%
DenmarkPool clearing18.9 GW202461%
FinlandPool clearing24.8 GW202465%
FrancePool clearing158 GW202449%
GermanyPool clearing266 GW202470%
ItalyPool clearing138 GW202455%
JapanPool clearing348 GW202337%
NetherlandsPool clearing62.2 GW202461%
NorwayPool clearing41.0 GW202499%
PhilippinesPool clearing31.7 GW202532%
SingaporePool clearing13.3 GW202513%
SpainPool clearing136 GW202468%
SwedenPool clearing53.7 GW202477%
United KingdomPool clearing112 GW202558%
United StatesPool clearing1,230 GW202430%
AustraliaEnergy-only, exporter-coupled94 GW2025†64%

Capacity sources: EIA Electric Power Annual, Table 4.3 · EMA Singapore Energy Statistics · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Eurostat nrg_inf_epc · Ministry of Power / CEA, Power Sector at a Glance · National Energy Administration (NEA) · IRENA Energy Profile, Malaysia · DESNZ, Digest of UK Energy Statistics (DUKES) · Philippines Department of Energy, List of Existing Power Plants · JEPIC / FEPC, Electric Power Industry in Japan · Canada Energy Regulator, Renewable Energy in Canada · AEMO, National Electricity Market Fact Sheet. European figures are Eurostat net maximum electrical capacity, one basis across all eleven markets; non-European figures come from national statistical publications and sit on their own reporting bases, so read across the two groups with that in mind. † Australia's figures cover the National Electricity Market only (the east-coast grid, excluding Western Australia's SWIS and off-grid systems); whole-of-country capacity is higher.