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Electricity Demand Expected to Grow 3% in 2021

Research and Markets
·2 min read

Dublin, March 05, 2021 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com published a new article on the electric power industry "Electricity Demand Expected to Grow 3% in 2021"

In 2021, after a slow year owing to the pandemic, electricity demand could surge 3% to levels higher than 2019 according to the International Energy Agency (EIA) although further outbreaks of COVID-19 could hamper demand. Electricity consumption could also double if the world's car fleets are electrified. The increase will drive the need to expand alternative energy generating sources like nuclear, solar, geothermal, and wind. $75 to $125 billion in new charging infrastructure investments may be needed by 2030 according to the Brattle Group.

One significant effect of pandemic lockdowns was a drop in electricity consumption in both the industrial and commercial sectors. Utility shut off moratoria are now in place for 51% of the US population through Jan. 31, 2021 according to the National Energy Assistance Directors' Association (NEADA). At least 35 states have granted utility requests for accounting orders or are poised to do so, according to Utility Dive. Accounting orders allow utilities to record on their books an offset known as a "regulatory asset," which is a shareholder asset entirely backed by regulations that allow utilities operating as monopolies to recoup losses through surcharges at a later date that would not be possible in a competitive market.

The article on ResearchAndMarkets.com contains a selection of reports on the electric power industry such as:

  • Electric Power Generation Canada and USA Report & Database

  • Electric Power Transmission, Control, and Distribution Global Market Report 2021: COVID-19 Impact and Recovery to 2030

  • Electric Power Generation

To see the full article and a list of related reports on the market, visit "Electricity Demand Expected to Grow 3% in 2021"

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