This paper addresses one of the controversial issues in the current comparative studies of the environmental and health impacts of energy systems, i.e. the treatment of severe accidents. The work covers technical aspects of severe accidents and thus primarily reflects an engineering perspective on the energy-related risk issues, though some social implications are also touched upon. The assessment concerns fossil energy sources (coal, oil and gas), nuclear power and hydro power. The scope is not limited to the power production (conversion) step of these energy chains but, whenever applicable, also includes exploration, extraction, transports, processing, storage and waste disposal. With the exception of the nuclear chain the focus of the work has been on the evaluation of the historical experience of accidents. The basis used for this evaluation is a comprehensive database ENSAD (Energy-related Severe Accident Database), established by the Paul Scherrer Institut (PSI). For hypothetical nuclear accidents the probabilistic technique has also been employed and extended to cover the assessment of economic consequences of such accidents. The broader picture obtained by coverage of full energy chains leads on the world-wide basis to aggregated immediate fatality rates being much higher for the fossil chains than what one would expect if only power plants were considered. Generally, the immediate fatality rates are for all considered energy carriers significantly higher for the non-OECD countries than for OECD countries. In the case of hydro and nuclear the difference is in fact dramatic. The presentation of results is not limited to the aggregated values specific for each energy chain. Also frequency-consequence curves are provided. They reflect implicitly the ranking based on the aggregated values but include also such information as the observed or predicted chain-specific maximum extents of damages. This perspective on severe accidents may lead to different system rankings, depending on the individual risk aversion. (C) 2004 Elsevier B.V. All rights reserved.