An energy management system is provided with a fuel synthesizing apparatus, a power generation apparatus, a CO2 recovering unit, a compressor, a CO2 storage unit, a CO2 pressure reducing unit and a heat recovery unit. The fuel synthesizing apparatus generates hydrocarbon from H2O and CO2 using externally supplied power. The power generation apparatus generates power using the hydrocarbon. The CO2 recovering unit recovers CO2 from an exhaust gas exhausted from the power generation apparatus during a power generation. The compressor compresses the recovered CO2. The CO2 storage unit stores the CO2 compressed by the compressor. The CO2 pressure reducing unit depressurizes the CO2 stored in the CO2 storage unit in order to supply the fuel synthesizing apparatus therewith. The heat recovery unit recovers heat from the CO2, the heat having been stored in the CO2 when compressed or depressurized.