Electricity Market Report – Mid-Year Update

Despite the enduring impacts of the global energy crisis, growth in electricity demand has remained robust in the first half of 2024 due to solid economic activity in many regions, intense heatwaves, and continued electrification.

This mid-year update, which follows the Electricity 2024 report published in January, explores this trend and its implications. It features the latest data for 2023 and new 2024 and 2025 forecasts for global electricity demand, supply by fuel type, and carbon dioxide (CO2) emissions from the power sector. It also analyses the latest developments in major markets, including China, the United States, the European Union and India.

The report includes a special focus on electricity demand trends in Europe and their drivers, as well as recent developments related to electricity in the data centre sector. In addition, it covers the increasing prevalence of negative electricity prices in many power markets worldwide.