The future looks dim, literally. Over the next generation, electricity demand threatens to outstrip production capacity; The North and almost all central European nations will have to work against tough odds to meet their targets. Under most 'business as usual' projections, they would need at least US $100 billion per year, but may not be able to muster more than US $20- 25 billion annually. Secondly, most power producing companies are in a firiancial and technical morass. And finally, future electricity projects will have to contend with climate change issues. Despite improved efficiency and expansion of renewables, fossil fuels will continue to monopolise the market. In this scenario, the developing countries will have to rethink their power policies.