Connection

popular articles

The Grand Ethiopian Renaissance Dam: Essential Cooperation for Sustainable Management of the Nile
IEA cuts global refinery runs forecasts
15% Reduction in Regulated Electricity Rates in France
Ireland approves the construction of its first offshore LNG terminal
GazelEnergie restarts Gardanne biomass plant with reduced wood supply

Global energy demand surged by 2.2% in 2024, driven by electricity

Global energy consumption growth doubled in 2024 compared to its ten-year average, fuelled by rising electricity use in advanced and emerging economies, according to a report by the International Energy Agency.

Please share:

Global energy demand increased by 2.2% in 2024, marking a significant acceleration from the 1.3% average annual growth recorded between 2013 and 2023, according to the Global Energy Review published by the International Energy Agency (IEA) on March 24. This growth was mainly driven by a sharp rise in electricity consumption, which accounted for nearly half of the increase. Emerging and developing economies contributed over 80% of the expansion, while advanced economies, after several years of decline, recorded a near 1% increase in energy demand.

Acceleration in electricity demand

The power sector saw a marked rise, with global electricity consumption up by 4.3%, equivalent to approximately 1,100 additional terawatt-hours. This growth was attributed to record global temperatures increasing cooling needs, transport electrification, data centre expansion and the rise of artificial intelligence. Most of the increase was absorbed by low-emission sources, supported by a global record of 700 gigawatts in newly installed renewable capacity.

Expansion of nuclear and natural gas capacity

Nuclear power also made a notable contribution, reaching its fifth highest level of expansion in the past 30 years. Combined with renewables, these sources accounted for 80% of the rise in global electricity generation in 2024, reaching 40% of total production for the first time. Natural gas demand rose by 115 billion cubic metres, posting an annual increase of 2.7%, the highest among fossil fuels.

Slower oil growth, localised coal increase

Oil consumption rose more moderately by 0.8%, with reduced road transport demand offset by increases in aviation and petrochemical usage. Oil’s share of global energy demand dropped below 30% for the first time in over half a century. Coal demand increased by 1%, half the growth rate of 2023, mainly due to heatwaves in China and India.

CO₂ emissions and economic dynamics

Energy-related carbon dioxide emissions rose by 0.8% to 37.8 billion tonnes, tempered by the rapid adoption of low-emission technologies. Since 2019, widespread deployment of solar panels, wind turbines, electric vehicles and heat pumps has prevented an estimated 2.6 billion tonnes of CO₂ annually. In advanced economies, emissions declined by 1.1%, returning to levels last seen 50 years ago, despite their combined GDP having tripled over the same period.

Register free of charge for uninterrupted access.

Publicite

Latest news

HD Renewable Energy secures 300MW storage in Japan’s 2025 decarbonisation auction
Oil rebounds over 3% driven by gasoline demand
SiEnergy acquires EPCOR’s Texas gas business for $60mn
Cypress Creek launches 104MW solar project with $150mn funding in the United States
Sunoco acquires Parkland for $9.1bn and creates new listed entity SUNCorp

Recently published in

Sunoco acquires Parkland for $9.1bn and creates new listed entity SUNCorp

US distributor Sunoco will acquire Canada's Parkland for $9.1bn, including debt, in a mixed transaction and form a separate listed entity, SUNCorp, whose shares will be treated as corporate stock for tax purposes.
Shell appoints Colette Hirstius as head of US operations
Shell announced the appointment of Colette Hirstius as President of Shell USA starting August 1, succeeding Gretchen Watkins after seven years in the role.
en_1140290962540
Shell appoints Colette Hirstius as head of US operations
Shell announced the appointment of Colette Hirstius as President of Shell USA starting August 1, succeeding Gretchen Watkins after seven years in the role.
en_1140290962540
ADNOC Gas exceeds expectations with $1.27bn net profit in first quarter
Emirati producer ADNOC Gas recorded a 7% increase in net profit in Q1 2025, driven by sustained domestic demand and efficient operational management.
en_1140290947540
ADNOC Gas exceeds expectations with $1.27bn net profit in first quarter
Emirati producer ADNOC Gas recorded a 7% increase in net profit in Q1 2025, driven by sustained domestic demand and efficient operational management.
en_1140290947540
ExxonMobil reports 6% drop in quarterly profit despite increased synergies
Falling refining margins and weaker oil prices weighed on ExxonMobil’s Q1 results, while the group now expects $3bn in annual synergies from its acquisition of Pioneer.
en_1140290963540
ExxonMobil reports 6% drop in quarterly profit despite increased synergies
Falling refining margins and weaker oil prices weighed on ExxonMobil’s Q1 results, while the group now expects $3bn in annual synergies from its acquisition of Pioneer.
en_1140290963540

Innergex shareholders approve 99.86% vote for full acquisition by CDPQ

Innergex shareholders validated the company’s full acquisition by Caisse de dépôt et placement du Québec for a total amount close to $1.8bn, pending final judicial and regulatory approvals.
Chevron sees net profit drop 36% in Q1 2025
Chevron reports a sharp decline in quarterly results, impacted by weak refining margins, stable production and exceptional charges in the United States and the United Kingdom.
en_1140290969540-2
Chevron sees net profit drop 36% in Q1 2025
Chevron reports a sharp decline in quarterly results, impacted by weak refining margins, stable production and exceptional charges in the United States and the United Kingdom.
en_1140290969540-2
Shell posts net profit of $4.8bn in Q1 2025 despite falling oil prices
Shell plc recorded a net profit of $4.8bn in the first quarter of 2025, down 35%, but above analyst expectations, supported by solid operational performance and a new share buyback programme.
en_1140290968540-2
Shell posts net profit of $4.8bn in Q1 2025 despite falling oil prices
Shell plc recorded a net profit of $4.8bn in the first quarter of 2025, down 35%, but above analyst expectations, supported by solid operational performance and a new share buyback programme.
en_1140290968540-2
TC Energy invests CA$2.4bn in nuclear and natural gas
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
en_1140290965540
TC Energy invests CA$2.4bn in nuclear and natural gas
TC Energy is committing CA$2.4bn to two major projects in North America, targeting rising energy demand and the long-term value of regulated assets.
en_1140290965540

Air Products posts $1.7bn net loss and exits three US projects

Air Products reports a substantial loss in Q2 of fiscal 2025, driven by charges tied to a strategic review of its US project portfolio.
Prospera Energy increases revenue by 38% and strengthens financial positioning
Prospera Energy closed fiscal year 2024 with a notable increase in revenue and a strategic reorganisation of its assets, while reinforcing its performance on the financial market.
en_1140290964540
Prospera Energy increases revenue by 38% and strengthens financial positioning
Prospera Energy closed fiscal year 2024 with a notable increase in revenue and a strategic reorganisation of its assets, while reinforcing its performance on the financial market.
en_1140290964540
Voltalia records 15% increase in production despite price pressure
Voltalia’s revenue rose by 2% in the first quarter of 2025, driven by third-party services, while energy production reached 1.1 terawatt-hours due to improved resources in Brazil.
en_1140290982540
Voltalia records 15% increase in production despite price pressure
Voltalia’s revenue rose by 2% in the first quarter of 2025, driven by third-party services, while energy production reached 1.1 terawatt-hours due to improved resources in Brazil.
en_1140290982540
Brookfield Infrastructure secures $1.6bn through targeted asset sales in 2025
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
en_1140290979540
Brookfield Infrastructure secures $1.6bn through targeted asset sales in 2025
Brookfield Infrastructure raised $1.6bn in the first quarter of 2025 by completing multiple asset sales while reporting a 5% increase in funds from operations.
en_1140290979540

Maxeon restructures operations after 55% annual revenue drop

Facing a U.S. import ban and a sharp sales decline, Maxeon Solar Technologies is now focusing its efforts on the American market.
Technip Energies raises forecast after 22% revenue surge
Technip Energies posted a double-digit growth in Q1 2025, supported by a record order backlog of €18.2bn ($19.46bn), despite regulatory uncertainties in the United States.
en_1140290959540-16
Technip Energies raises forecast after 22% revenue surge
Technip Energies posted a double-digit growth in Q1 2025, supported by a record order backlog of €18.2bn ($19.46bn), despite regulatory uncertainties in the United States.
en_1140290959540-16
Iberdrola posts 27% drop in quarterly profit following exceptional asset sale
Spanish group Iberdrola saw its net profit fall in the first quarter despite a moderate revenue increase, impacted by an unfavourable base effect linked to the 2024 asset sale in Mexico.
en_1140290961540-17
Iberdrola posts 27% drop in quarterly profit following exceptional asset sale
Spanish group Iberdrola saw its net profit fall in the first quarter despite a moderate revenue increase, impacted by an unfavourable base effect linked to the 2024 asset sale in Mexico.
en_1140290961540-17
Exeltium resumes negotiations with EDF to secure power supply agreement
The Exeltium consortium, composed of 24 electro-intensive industrial firms, seeks to finalise a new power supply deal with EDF before summer to succeed the original Exeltium 1 agreement.
en_1140290943540-13-2
Exeltium resumes negotiations with EDF to secure power supply agreement
The Exeltium consortium, composed of 24 electro-intensive industrial firms, seeks to finalise a new power supply deal with EDF before summer to succeed the original Exeltium 1 agreement.
en_1140290943540-13-2

Atlantic Petroleum cuts DKK90mn in debt and returns to profit in 2024

Atlantic Petroleum signed a conditional agreement to reduce its debt by at least DKK90mn ($12.8mn), while posting a modest net profit of DKK1.4mn marks a return to financial balance.
Neoenergia sells 50% of Itabapoana Transmission to GIC for $24.8mn
Neoenergia sells 50% of the Itabapoana Transmission asset to GIC for $24.8mn, integrating the assets into their joint holding company without changing their shareholding structure.
en_1140290956540-15
Neoenergia sells 50% of Itabapoana Transmission to GIC for $24.8mn
Neoenergia sells 50% of the Itabapoana Transmission asset to GIC for $24.8mn, integrating the assets into their joint holding company without changing their shareholding structure.
en_1140290956540-15
BP sees quarterly profit plunge 70% under pressure from Elliott Management
BP announces a sharp drop in quarterly profit, as Elliott Management intensifies its demands to improve the British oil group's financial performance.
en_1140290951540-16
BP sees quarterly profit plunge 70% under pressure from Elliott Management
BP announces a sharp drop in quarterly profit, as Elliott Management intensifies its demands to improve the British oil group's financial performance.
en_1140290951540-16
Galp invests €295mn in Namibia, Brazil and Portugal despite profit decline
Galp recorded a net profit of €192mn in the first quarter of 2025, down 41% year-on-year, while ramping up investments in oil exploration and renewable energy projects in Namibia, Brazil and Portugal.
en_1140290949540-16
Galp invests €295mn in Namibia, Brazil and Portugal despite profit decline
Galp recorded a net profit of €192mn in the first quarter of 2025, down 41% year-on-year, while ramping up investments in oil exploration and renewable energy projects in Namibia, Brazil and Portugal.
en_1140290949540-16

Spire appoints Scott Doyle as president and chief executive officer following Steve Lindsey’s resignation

Spire Inc. announced the immediate appointment of Scott Doyle as president and chief executive officer and member of the Board of Directors, succeeding Steve Lindsey.
Enedis strengthens internal procedures after new corruption allegations
Electricity network operator Enedis has initiated disciplinary proceedings against nine employees and filed a new complaint with the National Financial Prosecutor's Office amid an investigation into false invoicing.
en_1140290943540-11-2
Enedis strengthens internal procedures after new corruption allegations
Electricity network operator Enedis has initiated disciplinary proceedings against nine employees and filed a new complaint with the National Financial Prosecutor's Office amid an investigation into false invoicing.
en_1140290943540-11-2
SBM Offshore launches €141 million share repurchase program after completing €130 million one
SBM Offshore announces the launch of its €141 million ($150 million USD) share repurchase program, following the completion of the €130 million program, as part of its strategy to reduce capital and support employee programs.
en_1140290943540-16
SBM Offshore launches €141 million share repurchase program after completing €130 million one
SBM Offshore announces the launch of its €141 million ($150 million USD) share repurchase program, following the completion of the €130 million program, as part of its strategy to reduce capital and support employee programs.
en_1140290943540-16
Air Liquide forecasts limited impact from tariff increases on its results
Air Liquide anticipates a limited direct impact from global tariff hikes, while expecting an increase in its operational margin for 2025, despite weak demand in certain industrial sectors.
en_1140290948540-15
Air Liquide forecasts limited impact from tariff increases on its results
Air Liquide anticipates a limited direct impact from global tariff hikes, while expecting an increase in its operational margin for 2025, despite weak demand in certain industrial sectors.
en_1140290948540-15

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS