PARIS: The International Energy Agency (IEA) said on Monday that energy demand in advanced economies climbed after years of decline, driven by rapid electricity growth.
In a report, the agency showed that global energy demand rose by 2.2 percent last year, lower than GDP growth of 3.2 pct, but much faster than the average annual increase in demand of 1.3 pct between 2013 and 2023.
The report noted that emerging and developing economies accounted for more than 80 pct of the increase in global energy demand in 2024, despite slowing growth in China, where energy consumption rose by less than 3 pct, half its rate in 2023 and significantly lower than the country's recent annual average.
The IEA affirmed that the sharp increase in global electricity consumption last year was driven by record global temperatures, which boosted demand for cooling in many countries, as well as increased consumption from industry, the electrification of transportation, and the growth of data centers and artificial intelligence. In turn, the Executive Director of the International Energy Agency, Fatih Birol, said that there is a lot of uncertainty in the world today and different narratives about energy, stressing that this new report issued by the agency, which is based on data, "puts some clear facts on the table about what is happening globally." He added that electricity consumption is certainly growing rapidly, attracting sufficient overall energy demand to reverse years of declining energy consumption in advanced economies. He also indicated that the result is that demand for all major fuels and energy technologies will increase in 2024, with renewable energy sources accounting for the largest share of this growth, followed by natural gas.
Birol pointed out that the massive expansion of solar, wind, nuclear, and electric vehicle energy is increasingly weakening the relationship between economic growth and emissions.
The International Energy Agency (IEA) is an independent agency that provides comprehensive data, policy recommendations, and support to the global energy sector. The agency's mission is to promote energy security, economic growth, and environmental sustainability worldwide.

All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (Syndigate.info).