The world’s electricity demand growth is slowing sharply from its strong recovery the previous year as economic growth weakens and energy prices soar following Russia’s invasion of Ukraine, International Energy Agency’s (IEA) Electricity Market Report said on Wednesday.Global electricity demand is expected to grow by 2.4 per cent in 2022 after last year’s six per cent increase, bringing it in line with its average growth rate over the five years prior to the Covid-19 pandemic, the report said. While electricity demand is currently expected to continue on a similar growth path into 2023, the outlook is clouded by economic turbulence and uncertainty over how fuel prices could impact the generation mix. Strong capacity additions are set to push up global renewable power generation by more than 10 per cent in 2022, displacing some fossil fuel generation. Despite nuclear’s three per cent decline, low-carbon generation is set to rise by seven per cent overall, leading to a one per cent drop in total fossil fuel-based generation.