The world’s electricity consumption is forecast to rise at its fastest pace in years. It is expected to grow at close to 4% annually through 2027 as usage climbs in a range of sectors, particularly in emerging economies. The report finds growth in low-emissions sources will be sufficient to meet increased demand, with overall carbon dioxide emissions from electricity generation expected to plateau.

The report explores emerging trends such as growing electrification, expanding power systems and an increasing share of weather-dependent energy sources in the generation mix. Through this lens, it assesses resource adequacy and the methods needed to ensure the security, resilience and reliability of power systems and electricity supply. The report includes a feature on China’s evolving power demand as well as a section on the phenomenon of negative wholesale electricity prices.

Key findings

• More than half of global electricity demand growth in 2024 came from China.
• China’s electricity consumption has been growing faster than its economy since 2020.
• Record-high electricity generation from renewables and nuclear is expected to meet all the additional global demand.
• Nuclear power generation will reach a new high in 2025 and continue to rise steadily over the following two years.
• Global carbon dioxide emissions from electricity generation are expected to plateau after increasing by 1% in 2024.
• Some regions have seen increasing occurrences of negative wholesale prices in recent years.