Global electricity consumption expected to increase

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While global demand will rise, the EU's electricity demand is set to drop to the lowest level in 20 years in 2024.

Official Press Release IEA:

Declining electricity consumption in advanced economies is weighing on global demand growth this year

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Declining electricity consumption in advanced economies is weighing on global demand growth this year

EU electricity demand set to drop to lowest level in 20 years, but with global consumption expected to increase strongly in 2024, growth of renewables is more important than ever

Overall growth in electricity demand worldwide is expected to ease in 2023 as advanced economies grapple with the ongoing effects of the global energy crisis and an economic slowdown, according to the IEA’s latest Electricity Market Report. The report’s July update, published today, finds that electricity demand in the United States is expected to decline by almost 2% this year while demand in Japan is forecast to fall by 3%. Electricity demand in the European Union is set to drop by 3%, similar to the decrease recorded in 2022. Following these two consecutive declines,... ... More: Official Press Release IEA

IEA, electricity, demand, economy, level, increase, growth, advanced, developing, China, renewable energy, effect, EU

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