Abstract:

Electricity is central to the functioning of modern societies and economies and its importance is only growing as technologies that run on electricity, such as electric vehicles and heat pumps, become increasingly popular. Power generation is currently the largest source of carbon dioxide (CO2) emissions in the world, but it is also the sector leading the transition to net zero emissions through the rapid expansion of renewable energy sources such as solar and wind power. Ensuring consumers have secure and affordable access to electricity while also reducing global carbon dioxide (CO2) emissions is one of the core challenges of the energy transition. The report offers a deep and comprehensive analysis of recent policies and market developments, and provides forecasts through 2026 for electricity demand, supply and CO2 emissions. It provides insight into the evolving generation mix. In addition this year’s report features in-depth analysis on the drivers of recent declines in electricity demand in Europe; the data centre sector’s impact on electricity consumption; and recent developments in the global nuclear power sector.