About WEC

Finances

The budget of the World Energy Council covers two main areas:

• The three-year Work Programme, which includes WEC's Studies, Technical Services, Regional Programmes, the Global Energy Information System, and services to members.
• Operating costs for the London office.
  

The operating costs of the London office, some aspects of the publications programme, some member services, and a portion of the Work Programme expenses are covered by the annual subscriptions paid by WEC's Member Committees. Annual subscriptions are calculated using a formula based on energy production and consumption statistics and income per capita for each country. The formula is recommended by the Officers Council and reviewed and approved by the Executive Assembly. The £450,000 needed annually to support WEC's Work Programme comes from three main sources.

• The first source of funding for WEC's work programme is WEC itself, which makes a direct contribution of staff time and support services.
• Another source is interest earned on WEC Foundation funds. The Foundation was established as a charitable trust in 1990 to receive and use, in the best interests of the WEC membership at large, financial donations and contributions from individuals, organisations and global energy companies. Contributors to the Foundation are designated as WEC Patrons.
• A third source of income is WEC Services Limited (WSL). WSL takes in trading income from Congress revenue*, royalties, advertising, publication sales, Internet revenue and other revenue streams which, after the deduction of specific business expenses, is transferred annually to WEC to fund the Work Programme.
• Some of these funds are used as seed money in partnership with other organisations to deliver results over the three-year work cycle.
  

Member Committee representatives and other participants in WEC's Work Programme cover their own travel and accommodation costs. * The Organising Committee for each Congress commits a certain percentage of the gross revenue from the event or commits to contribute a fixed sum to WEC.