International Energy Agency (IEA). (2015) World Energy Model Documentation 2015 Version. Paris: OECD/IEA.
IEA recently released the World Energy Outlook 2015, which provides medium to long-term energy projections using the World Energy Model (WEM). WEM is a large-scale simulation model designed to replicate how energy markets function and is the principal tool used to generate detailed sector-by-sector and region-by-region projections for the World Energy Outlook scenarios. The model is updated each year to incorporate energy and climate-related policies and measures.
This documentation provides a detailed description of WEM and its key assumptions in energy demand, power generation and heat plants, energy supply, emissions, investment and prices.