Electricity Mid-Year Update 2026 (IEA)

Summary

• Global electricity demand is forecast to grow by 3.6% in 2026 and 3.8% in 2027, up from 3% in 2025.p.6
• Global electricity consumption is set to reach 30,700 TWh in 2027, up from 28,600 TWh in 2025.p.6
• The temporary loss of nearly 20% of global LNG supply triggered significant price volatility.p.6
• Generation from renewables is forecast to grow by more than 8% in 2026, with their share rising from 33% in 2025 to 37% by 2027.p.7
• CO2 emissions from electricity generation are expected to increase by 1% in 2026 and then plateau in 2027.p.8
• Average spot wholesale electricity prices in the EU and Japan increased by more than 30% year-over-year in the second quarter of 2026.p.8

Key insights

1. Wholesale electricity prices in Australia were about 45% lower, helped by renewables and battery storage.p.8
2. Electricity consumption in China is forecast to increase by 5.5% in 2026, after rising by 5.2% in 2025.p.10
3. In India, electricity demand rose by around 6% in the first half of 2026.p.12
4. EU electricity demand rose by more than 2% in the first half of 2026.p.12
5. Global electricity demand is forecast to exceed 30,000 TWh in 2027.p.9