Surging Electricity Demand Increases the Risk of Blackouts in the U.S.

Back in the middle of 2023, the International Energy Agency reported that electricity demand is on the decline in advanced economies. The IEA said at the time that demand for electricity in the U.S. alone was set to drop by 2% in 2023. Instead, demand is surging. And warnings of blackouts are multiplying. This weekend, the Electric Reliability Council of Texas issued a call for electricity conservation to Texans for Monday morning to avoid a shortage. The reason: a spike in demand due to winter weather combined with insufficient wind speeds for…