World electricity demand is expected to increase by an average of 3.4% every year until 2026
Electricity, derived from the flow of electric charge, is vital for numerous aspects of modern life, from work and communication to transport and leisure. Most electricity is produced from fossil fuels in power plants, but low-carbon sources like nuclear and renewables (solar, wind, hydro, biomass) are increasingly contributing to the global generation mix. These efforts aim to mitigate climate change and leverage falling technology costs. Electricity generated is fed into a grid, transmitted over long distances, and distributed regionally to homes and businesses.
Balancing electricity supply with demand is complex, requiring markets to ensure sufficient generation through forward contracts and real-time balancing with flexible measures like dispatchable generation, energy storage, and interconnection. The system is evolving with more intermittent renewables and decentralized generation, creating supply-side disruptions and demand-side uncertainties. Future electricity systems will need enhanced grid roles, greater flexibility, and new business models, increasingly relying on digital technologies.
Learn more about these sources of electricity by exploring our Energy Insights on this topic.
Discover UK energy professionals' views of the future of electricity, gathered in our annual Energy Barometer.
Search for articles on electric vehicles and the role of electricity in transport published in our New Energy World magazine.
0%
share of total power generation was from renewables in 2023 (Statistical Review of World Energy)
Over0%
of global electricity still comes from coal-fired generation (IEA)
0%
of global electricity demand increase during 2020-25 is expected to be met by renewables (IEA)
0GW
is the grid-scale battery electricity storage system capacity in 2023 (Statistical Review of World Energy)
What's new?
Egypt’s largest wind energy project secures African bank funding while Namibia unveils new local content policy
11/12/2024
Total costs for the Suez Wind project are put at $1.1bn. The AfDB’s financing is in addition to funding expected from a consortium of development fina...
EDF and Centrica throw in six more years of nuclear power with UK AGR life extensions
11/12/2024
The Heysham 2 (Lancashire) and Torness (East Lothian) nuclear power plants will now keep producing zero-carbon electricity for an additional two years...
Israeli wave energy innovator sees first project inaugurated, as company looks overseas to US and Taiwan
4/12/2024
‘The launch of Israel's first wave energy power plant is more than just a technological achievement – it's a powerful statement about the future we en...
New Indonesian President signs off $7bn gas project while reaffirming 2050 net zero target
4/12/2024
The $7bn Tangguh Ubadari CCUS Compression (UCC) project will comprise development of the Ubadari gas field, enhanced gas recovery through CCUS and ons...
China powers up record-breaking 15 MW onshore wind turbine
27/11/2024
Installed in Tongyu, Jilin Province, north-east China, the SI-270150 wind turbine boasts a rotor diameter of 270 metres and a blade length of 131 metr...
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