IEA: Global electricity demand up 6% in 2021

In 2021, global electricity demand grew by 6% for the first time since 2010. Such data is provided by the International Energy Agency (IEA) in its report.

The growth in absolute terms exceeded 150 TWh, which is a record for the entire time of observations. At the same time, the IEA explained that despite the impressive introduction of renewable energy sources, the generation of electricity from coal and gas in the world has reached record levels.

"As a result, annual carbon dioxide emissions from the global electricity sector have reached a new all-time high after declining over the previous two years," the study said.

About half of global electricity demand growth last year came from China, where it grew by about 10%. The PRC and India suffered power outages at certain points in the second half of the year due to coal shortages.

"The recent energy price spikes are creating hardship for many households and businesses around the world and risk causing social and political tensions," the report said.

The IEA price index in the major wholesale electricity markets nearly doubled from 2020 and is up 64% from the 2016-2020 average. In Europe, average wholesale electricity prices in the fourth quarter of 2021 were more than four times the 2015-2020 average prices.