Energy markets: changes toward decarbonization and valorization

Mechanisms of global changes on energy markets are reviewed. The main mechanisms are decarbonization of energy recourses and valorization of energy products. The decarbonization covers modest increases of energy-efficiency in industries and households along with fast substitution of fossil energy resources for renewable ones. This evolves despite availability of energy resources and fluctuating real prices of fossil energy. The valorization evolves when the higher costs of energy resources are outweighed by even higher value of energy products as perceived and purchased by customers. The valorization on energy markets is expressed as electrification, entry of variable renewable energy technologies and distributed energy systems for local energy production and consumption. Regarding these mechanisms on energy markets there is reason for optimism about progress toward sustainable development.