Global Electricity Demand Growth Set To Ease Amid Economic Slowdown

The world’s demand for electricity is expected to rise by less than 2% this year, down from last year’s growth pace of 2.3%, as power consumption in the United States and Europe will decline amid an economic slowdown and the effects of the energy crisis, the International Energy Agency (IEA) said in a new report on Wednesday.    Electricity demand in the United States is set to decline by nearly 2% this year, demand in Japan is expected to drop by 3%, while EU power demand is on track to fall by 3%, after a similar decline…