In its new Global Energy Review on Monday 24 March, the International Energy Agency (IEA) revealed that world energy demand had grown at a faster-than-average rate in 2024, with electricity demand jumping by 4.3%.
“Electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies”, emphasised Executive Director of the International Energy Agency Fatih Birol.
Energy demand in the EU has thus started to grow again for the first time since 2017, apart from the post-Covid-19 rebound in 2021. As a general rule, energy demand in advanced economies rose by almost 1% overall last year. The United States experienced the third highest growth in absolute demand in 2024 (after China and India).
However, emerging and developing economies accounted for more than 80% of the increase in global energy demand in 2024, despite slowing growth in China.
Total world energy demand rose by 2.2% last year. This is less than GDP growth (3.2%), “but considerably faster than the average annual increase in demand of 1.3% between 2013 and 2023”, says the IEA.
These additional energy requirements were met mainly by an increased supply of renewable energies and natural gas.
To see the IEA report: https://aeur.eu/f/g39 (Original version in French by Pauline Denys)