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The International Energy Agency (IEA) has lowered its forecast for growth in world electricity demand to 1.9% from a previous prediction of 2.6%, as shown in the organization’s report.
"In 2023, growth in the world's need for electricity is anticipated to slow. Our prior growth prediction of 2.6% has been reduced to 1.9%, which is weaker than the 2.4% average annual growth for the 2015-2019 timeframe," according to the analysts.
The IEA forecasts that if the economic outlook improves, global energy consumption will expand faster in 2024, possibly reaching 3.3%. As a result, the large drop in demand in established economies will contrast with the expansion experienced in China and India, the two emerging economies.
source: iea.org
"In 2023, growth in the world's need for electricity is anticipated to slow. Our prior growth prediction of 2.6% has been reduced to 1.9%, which is weaker than the 2.4% average annual growth for the 2015-2019 timeframe," according to the analysts.
The IEA forecasts that if the economic outlook improves, global energy consumption will expand faster in 2024, possibly reaching 3.3%. As a result, the large drop in demand in established economies will contrast with the expansion experienced in China and India, the two emerging economies.
source: iea.org
