EU electricity consumption could hit 20-year low

The bloc’s industry has been hammered by rising power costs since Brussels sanctioned Russia Demand for electricity in the European Union will fall by 3% this year to its lowest level in two decades, the International Energy Agency predicted in a report on Thursday. The agency named the EU’s declining industrial output as the key factor behind the slump. Combined with last year’s 3% fall in demand, the slump is now the largest in EU history, bringing the bloc’s electricity consumption back to levels not seen since 2002, the report stated. Two thirds of the reduction came from energy-intensive industries last year,

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