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Electricity Market report
July 30 , 2022
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- International Energy Agency (IEA) released its early 2022 edition of the bi-annual Electricity Market Report.
- The Global electricity demand increased by 6% year-on-year in 2021.
- It was the steepest year-on-year increase recorded by the IEA since 2008 financial crash.
- The Global energy intensity decreased by 1.9% year-on-year.
- This drop was only half as compared to the level required to lay foundation for net-zero by 2050.
- In 2021, the electricity generation from renewables increased by 6% year-on-year.
- Generation from coal was increased by 9%.
- This increase was led by markets like China and India, where coal served as greater than half of the increase in demand.
- There was an increase of 2% in gas-fired generation.
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