Internationalism No. 85, March 2026 Page 8 From the series The world energy battle Electricity is at the heart of modern economies and the demand for electricity is growing much faster than the overall consumption of energy in every scenario [ Electricity 2025 , International Energy Agency report]. Overproduction and power grid bottlenecks Electricity represents just 21% of energy consumption at a global level, but it is the main source for the sectors which represent more than 40% of the economy. A fundamental issue for the security of the electricity system is the modernisation of the power grid, which is currently lagging behind the expansion of production capacity. Although global investment in the production of electricity has increased by almost 70% since 2015, reaching $1,000 billion a year, annual spending on the grid has increased at less than half this rate, reaching $400 billion. This is also a European problem. Accordin...