A new International Energy Agency report examines how replacing fuel use with electricity could strengthen energy security. Published on 22 September, it was prepared at the request of Türkiye and Australia for discussions linked to COP31. The analysis estimates that electricity could economically supply 33% of final energy consumption worldwide by 2035, compared with 23% today. That estimate uses existing technologies and energy prices from before the current supply shock. A proposed global target of 35% remains under discussion.
Potential applications include agricultural pumps, urban transport and equipment used by small businesses. However, wider adoption requires more than purchasing electric machines. Countries would need investment in power generation and grids, alongside systems that manage electricity demand more flexibly. Some households and businesses would also need help with upfront costs. The report therefore presents an opportunity with practical conditions attached. Affordable equipment matters, but reliable electricity and the capacity to connect new users are equally important to making the transition work.