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POWER: Prices, Industrial Demand Weigh on European Power Demand Growth

POWER
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The previously anticipated annual power demand increases of 7% until 2030 is unlikely to materialise according to a report from the Oxford Institute for Energy Studies. 

  • Demand growth is likely to be subdued due to demand destruction from higher power prices and relocation abroad of industrial production sites as well as sluggish growth of EV’s and plug-in hybrids vehicles.
  • The EU’s primary metal industries saw a cumulative loss of around 23TWh of power demand since 2020 due to plant closures and production curtailments.
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The previously anticipated annual power demand increases of 7% until 2030 is unlikely to materialise according to a report from the Oxford Institute for Energy Studies. 

  • Demand growth is likely to be subdued due to demand destruction from higher power prices and relocation abroad of industrial production sites as well as sluggish growth of EV’s and plug-in hybrids vehicles.
  • The EU’s primary metal industries saw a cumulative loss of around 23TWh of power demand since 2020 due to plant closures and production curtailments.