Energy Outlook 2026

We’re pleased to introduce the fourth edition of our Energy Outlook, where our global Energy & Utilities team assess the key developments set to shape the sector in 2026 and provide a clear view of the challenges and opportunities ahead.

The energy sector enters 2026 amid a historic transformation, with regions moving at different speeds and sometimes in different directions. Decisions by the Trump administration may trigger a need for quick adjustments around the world.

Nuclear power is experiencing a renewed surge in several markets, with global generation reaching record highs, while renewables are on the cusp of overtaking coal as the world’s largest source of electricity. At the same time, battery electricity storage is becoming commercially viable without state support, marking an inflection point for large‑scale flexibility solutions.

Regulatory changes around political intention, digitalisation and grid infrastructure are reshaping investment strategies, whilst data protection and cybersecurity concerns continue to challenge governance models. The rule based international order is being challenged and may affect not only access to natural resources and their exploitation. Investment priorities are evolving as stakeholders weigh commercial growth against political priorities, energy security, and ethical obligations.

Innovation is accelerating across the sector, with AI transforming everything from grid management and predictive maintenance, through to personalised energy optimisation models. Small modular reactors and advanced nuclear technologies are emerging alongside battery storage and next-generation geothermal systems. These developments bring both opportunity and complexity, as clients navigate questions of data ownership, interoperability standards, and system resilience. The year ahead will test organisations’ ability to adapt to, and stay ahead of, the digital curve. 

This year’s Energy Outlook brings together significant themes across the energy system, covering:

• Renewables
• Energy Storage
• Grids & Networks
• Nuclear
• Electric Vehicles
• Energy Solutions
• Energy Digitalisation
• Mining & Metals
• Hydrogen
• Oil & Gas
• Heating and cooling

This report distils these trends into actionable insights, helping you anticipate risk, capitalise on innovation, and make informed decisions in an increasingly dynamic landscape.

Read our Energy Outlook 2026 here