Global electricity demand should rise around 4% annually through 2027, IEA estimates in a new analysis. Why it matters: It's the fastest growth in years as AI, industrial production, air conditioning,

EVs and data centers will drive power demand in the U.S. higher, while the expansion of air conditioning will add to electricity needs in developing countries.

Global electricity demand is expected to grow by more than the total consumption of Japan each year through 2027, but the expansion of low-emissions energy sources should help offset the trend, the IEA said in a report on Friday.

KEY TAKEAWAYS The International Energy Agency on Thursday raised its projection for 2025 oil demand growth slightly, with China continuing to drive the increase—though at a smaller pace than in the past.