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IEA Chief Fatih Birol Declares Global Transition to Age of Electricity

4h agoSource: The Guardian Summarised by News Hub Central

World is now in ‘age of electricity’, energy agency chief says — Image via The Guardian

Fatih Birol, executive director of the International Energy Agency, stated that the global economy has moved past the era dominated by coal, oil, and gas into what he termed the age of electricity.

Speaking as a summit evaluated an electrification pledge, Birol noted that capacity additions over the coming decade are projected to outpace the previous ten years by a factor of two. Nations are accelerating these transitions to protect power networks from fossil fuel price swings and supply disruptions.

Further updates regarding the international energy summit and related electrification commitments are anticipated as the situation continues to unfold.

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