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Economy Up, Electricity Down

Around the world - in industrial and poor countries - use of electricity is no longer growing in lockstep with economic growth.

The world economy keeps growing - but sales of electricity is no longer linked to that growth.

Electric power sales are increasingly decoupled from the rising tide of enterprise worldwide, according to a new report by the U.S. Energy Information Administration.

Industrial nations lead the way, as they move away from manufacturing to less energy intense commercial activities, the report said. In addition, the manufacturing still thriving in the developed world is increasingly energy efficient.

In the developing world, including China, India, Brazil and Egypt, is now using more electricity than the highly developed industrial world, EIA said.

Even so, in both regions of the world, the rate of increased electricity use will trail economic growth.

"... among OECD member countries, gross domestic product (GDP) increases by 1.7% per year, and electricity use increases by 0.9% per year between 2015 and 2040. In non-OECD countries, GDP increases by 3.8% per year, and electricity use increases by 2.0% per year over the same period," the government reported.

 

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