07/16 Closing Prices / revised 07/17/2024 08:15 GMT |          07/16 OPEC Basket  $84.44   -$0.87 cents 07/16 Mexico Basket (MME) $74.97   -$1.06 cents  | 06/31 Venezuela Basket (Merey)  $69 23   -$1.22 cents| 07/16 NYMEX WTI  August CLQ24  $80.76 -$1.15 cents  | 07/16 ICE Brent Sept  BRNU24 $83.73 -$1.12 cents  | 07/16 NYMEX Gasoline Aug RBQ24 $2.48 -0.6 %  |  07/16 NYMEX  Heating Oil  Aug  RBQ 24   $2.47  -1.8% | 07/16 Natural Gas August NGQ 24    $2.19 +1.4%  | 07/12 Active U.S. Rig Count (Oil & Gas)    584  -1  | 07/17 USD/MXN Mexican Peso   17.6789 (data live)  | 07/17 EUR/USD   1.0910 (data live)  | 07/17 US/Bs. (Bolivar)   $36.5060000 (data BCV)

Electricity Producers Face Big Ask as World Demand Set to Soar – Bloomberg

China is predicted to account for a third of electricity demand by 2025, according to the IEA. Global power demand to to reach 3.2% in 2024-2025 (IEA)

LONDON
EnergiesNet.com 02 09 2023

China’s unrelenting need for more electricity to run the world’s factory floor and charge the biggest fleet of battery-powered vehicles will push global power demand to new heights, compounding the pressure on utilities to keep pace.

The increase in worldwide consumption each year through 2025 will be roughly equivalent to what the UK and Germany use now, according to the International Energy Agency’s annual electricity report. China is predicted to account for a third of electricity demand by then.

Electrification is increasing across the world as countries subsidize greener technologies and aim to decarbonize heating and industrial processes to meet ambitious climate goals. That requires more investment from utilities to build power stations, supplement fossil fuels with renewable sources and bury more cables to expand grid capacity.

“Renewables and nuclear power are growing quickly enough to meet almost all this additional appetite,” IEA Executive Director Fatih Birol said. “Governments now need to enable low-emissions sources to grow even faster.”

The annual growth rate for electricity demand is set to reach 3.2% in 2024-2025, compared with 2.6% this year, the IEA said.

Carbon emissions from the power sector, which constitute about 40% of the total, are expected to plateau as drastic cuts in Europe and the Americas offset the growth in coal and gas-fired facilities in Asia.

In addition, the global intensity of emissions from power generation — or the amount of carbon dioxide produced per unit of energy — is expected to decline by an average of about 3% a year through 2025, the IEA said.

bloomberg.com 02 08 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top