In its latest Electricity Market Report , the Paris-based International Energy Agency (IEA) says that global demand for electricity is already slowing sharply thanks to slowing economic growth and high energy prices. “Electricity demand growth is slowing significantly in 2022. After global electricity demand grew by a strong 6% in 2021, propelled by rapid economic recovery as COVID-19 lockdowns eased, we expect growth to slow to 2.4% in 2022–about the same as the average from 2015 to 2019,” according to the report. The agency said that the slowing growth reflected slower global economic growth and higher energy prices following Russia’s invasion of Ukraine as well as renewed public health restrictions, particularly in China. Renewable sources of energy are growing faster than demand and replacing fossil fuels, according to the international energy body, with strong capacity additions so far this year helping global renewable power generation achieve a 10% growth […]