Europe’s Power Demand Returns to Growth

Despite weakening industrial activity and high energy costs, European electricity demand is bucking years of flailing power consumption. Rising electrification rates and the data center boom are the key drivers of this new trend in Europe’s power demand, which is set to gather momentum in the coming years amid the EU’s energy transition and the global AI boom. Europe’s electricity demand growth is nowhere near the pace seen in the United States and China in recent years, but it’s a marked shift nevertheless, after years…