There has been a significant slowdown in demand for electricity internationally this year as a result of the economic slowdown and high prices, the IEA says in its new report on the sector.

In particular, demand this year is forecast to increase globally by 2.4% compared to 6% last year with a parallel slight decrease in emissions of less than 1%.

The organization notes that renewables are currently growing faster than demand and are replacing fossil fuels, while the increase in their production for this year is estimated at more than 10%.

During the period 2022-24, the IEA expects a rapid growth of RES that will almost keep pace with the rise in demand for electricity, covering 90% of it.

Finally, fossil fuels are forecast to remain stagnant over the next three years, although there is a shift from gas to coal as a result of the crisis and high prices.