Global electricity demand is set to grow at a faster pace this year than last – even as power systems worldwide contend with energy market turmoil and volatile prices. This is according to the IEA’s latest Electricity Mid-Year Update.

Published on 23 July 2026, the report forecasts that global electricity demand will grow by 3.6% in 2026 and by a further 3.8% in 2027 – up from 3% growth in 2025. Global electricity consumption is projected to reach 30,700 terawatt-hours (TWh) in 2027, compared with 28,600 TWh in 2025.

Specifically, the report states that the world’s largest economies are set to see strong rises in electricity consumption. In China, demand growth is expected to accelerate to 5.5% in 2026, pushed higher by manufacturing activity and expanding electric vehicle charging. In India, demand growth is forecast to rebound strongly to 7% following weather-related weakness in 2025. Among advanced economies, growth remains robust at close to 2% in the United States and in the European Union. By contrast, sharply higher fuel costs and supply disruptions are weighing on electricity consumption in more price-sensitive LNG-importing markets in Asia, including Pakistan and Bangladesh.

The report cautions that weather-related developments may affect electricity demand trends significantly, adding uncertainty to the outlook. A stronger-than-expected El Niño event in 2026 could boost electricity demand further by raising cooling needs while simultaneously reducing hydropower and wind generation in some regions, increasing reliance on other sources of generation.

In terms of growth in carbon dioxide emissions, the IEA forecasts an increase of around 1% in 2026 before flattening out in 2027 due to continued growth in renewables and a strong increase in nuclear power.

Read more.