Global power consumption to fall for first time since 1945 - IEA

22 May 2009 - Global electricity consumption will fall this year for the first time since 1945, according to the International Energy Agency.

The watchdog for developed energy consuming countries will tell energy ministers from the Group of Eight leading economies on Sunday that electricity demand will fall 3.5 per cent in 2009, reported the Financial Times.

In China, where power use is seen as a more reliable barometer of economic activity than official economic measures, consumption will be more than 2 per cent lower than 2008. Russia will see a fall of almost 10 per cent, while countries in the Organisation for Economic Co-operation and Development will see a fall of almost 5 per cent.

Three-quarters of the global decline in consumption is accounted for by industrial rather than household demand, reflecting the fall in demand from China's manufacturing-heavy economy. Consumption in India, by contrast, is expected to increase 1 per cent.

"This shows how deep a recession we are in," said Fatih Birol, IEA chief economist. "Oil demand has declined in the past due to oil price shocks, financial crises – but electricity consumption has never decreased.

Sponsored by FLSmidth
Recommend this article Recommend this article () You recommended this article You recommended this article ()
Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Buyers Guide Company Listings

Datapartner Inc

Our software Invest for Excel is used by more than 100 power companies worldwide for capital budgeting, financial modeling and valuation. We also offer a Sharepoint solution for capex portfolio.

Interdevelopment Inc

Offers management consulting and marketing, financing for power plants, particularly energy production by renewable fuels, such as wind/solar/biomass power, including compliance issues.

The Clifton Corp

Engineering and development company specializing in water resources, hydro and solar power and biogas/methane facilities. Provides development services from engineering, economic and financial feasibility to financing and operations and maintenance.

Valentin Software Inc

Valentin Software is the largest, most comprehensive and oldest developer of solar PV and thermal design, simulation, modeling and financial analysis software, with customers in over 70 countries.

Power Industry Wire News

Magnum Hunter Resources Announces Closing of New Credit Facilities and Refinancing of Prior Revolving Credit Facility

Magnum Hunter Resources Announces Closing of New Credit Facilities and Refinancing of P...

Gehrlicher Solar America Corp. Grabs Top Spot on Solar Power World's 2014 Top 400 Solar Commercial Contractors List

Gehrlicher Solar America Corp. Grabs Top Spot on Solar Power World's 2014 Top 400 Solar...

Welocalize Sponsors and Exhibits at Localization World 2014 in Vancouver

Welocalize Sponsors and Exhibits at Localization World 2014 in Vancouver

Falconridge Oil Technologies Corp. Discusses Mission Statement for Growth of Terra Slicing Alternative Fracking Technology

Falconridge Oil Technologies Corp. Discusses Mission Statement for Growth of Terra Slic...

Semitech Debuts Single-Chip, Grid-Connected Signal Controller for IoT Applications

Semitech Debuts Single-Chip, Grid-Connected Signal Controller for IoT Applications

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>