November 03, 2025

Power Generation Drivers:

• After remaining flat for the last 2 decades, overall power requirements are expected to grow 6%/year during the next decade.
• Coal-fired generation has lost market share over the last decade, accounting for just 14% in 2025 from 41% in 2010. This trend is expected to continue with market share eroding to 5% in 2035.
• Renewables (Wind and Solar) are expected to grow strongly at 6.0%/year over the next decade.
• Natural gas-fired generation is expected to grow 2.8%/year, requiring an additional 12.9 Bcf/d by 2035.
• Ageing Nuclear capacity has recently come offline, going forward new capacity will grow output by 0.9%/year over the next decade.