Electricity demand is on course to rise by 3.3% in 2025 and 3.7% in 2026 – more than twice as fast as total energy demand growth over the same period, the report says. Demand for electricity is increasing to power factories and appliances, keep buildings cool, operate growing fleets of data centres, run electric vehicles and more. The latest forecasts for global electricity demand growth this year and next are well above the 2015-2023 average.

According to the report, renewables are expected to overtake coal as the world’s largest source of electricity generation as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends. At the same time, nuclear power output is expected to reach record highs. The steady increase in natural gas-fired power generation is set to continue displacing coal and oil in the power sector in many regions.

Read the report – and check out the latest version of our Real-Time Electricity Tracker. The online tool allows you to explore and compare real-time data on electricity demand, generation, spot prices, trade and carbon dioxide emissions across dozens of countries.

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