Global surge in electricity use could bring three more years of price rises

(The Guardian, 14 Jan 2022) International Energy Agency says pollution from power generation will worsen until alternatives are found.

The global surge in demand for energy could spark another three years of market volatility and record power plant pollution unless countries make major changes to how they generate electricity, the world’s energy watchdog has warned.

The International Energy Agency recorded the steepest ever increase in electricity demand last year, which triggered blackouts in major economies and led to historic energy price highs and record emissions.

The IEA’s annual electricity report said this could continue for another three years, with serious consequences for consumers and economies unless there is a faster structural change to the way electricity is produced.

“Sharp spikes in electricity prices in recent times have been causing hardship for many households and businesses around the world and risk becoming a driver of social and political tensions,” said the IEA’s executive director, Fatih Birol.

The IEA found that the world’s demand for electricity surged by 6% last year, following the global economic rebound from the 2020 pandemic recession, the steepest increase since 2010 when economies began to bounce back from the global financial crisis. The total increase in electricity demand was over 1,500 terawatt-hours, the largest on record.

External link

The Guardian, 14 Jan 2022: Global surge in electricity use could bring three more years of price rises