Volatile Energy Prices, Record EV Growth & AI Power Challenges

Energy systems are facing growing pressures and new opportunities, from rising electricity prices and the enormous power demands of AI to record electric vehicle adoption across the globe. Meanwhile, China is advancing new energy storage technology and bioenergy is expected to play a growing role in meeting future demand.

⚡ Hormuz Disruptions Push Up Electricity Prices

Disruptions around the Strait of Hormuz have driven up LNG prices, feeding into higher wholesale electricity costs in markets reliant on gas. Average spot electricity prices in the EU and Japan rose by more than 30% year-on-year in Q2 2026, highlighting the impact of global fuel shocks.

The LNG price shock resulting from Hormuz disruptions has translated into higher wholesale electricity prices in markets where LNG plays a key role. Average spot electricity prices in the EU & Japan rose by over 30% year-on-year during Q2 of 2026 👉 https://t.co/JuMrJRn9j7 https://t.co/BH2Qn7HVtO

— International Energy Agency (@IEA) October 15, 2026

🚗 EV Sales Hit Record Shares Across 49 Countries

Electric vehicles reached record sales shares in 49 countries during 2026, with some unexpected leaders emerging. Vietnam’s peak share has surpassed China’s and Sweden’s, while Thailand has overtaken Germany and the UK, showing how quickly EV adoption is spreading beyond traditional frontrunners.

The power of unstoppable S-curves: 49 countries hit record Electric Vehicles sales shares in 2026. It's not what you’d expect: >Viet Nam’s peak share now tops China’s and Sweden’s >Thailand beats Germany and the UK >Uruguay beats France Completely missing: the US, at 6% https://t.co/ZRo9Rf9a6B

— Assaad Razzouk (@AssaadRazzouk) October 14, 2026

🤖 America’s AI Buildout Faces a 24 GW Power Gap

Plans for 18 major US AI campuses total around 30 GW of power capacity, but only about 6 GW is currently operational, according to Epoch AI estimates. Gas-fired plants are expected to supply much of the shortfall, raising questions about whether power infrastructure can keep pace with AI expansion and competing demand for US natural gas.

🇺🇸 America’s AI build-out is 24 GW short of its own plans. The 18 biggest AI campuses are planned at 30 GW. About 6 GW runs today, according to Epoch AI estimates. The largest is Meta’s Hyperion in Louisiana, planned at 5 GW, and none of it runs yet. Its power plan is 10 gas-fired plants of 7.5 GW, an $ 11bn deal that Meta pays for. Seven of those plants still need regulator approval. None of the 18 campuses is in California. They cluster in Texas, Louisiana, Ohio, Tennessee and the Midwest, close to gas supply and with room to build turbines. If that 24 GW gap ran on gas around the clock, it would burn 3.6 Bcf/d. That’s about the feedgas for 25+ Mtpa of LNG, more than all of Alaska LNG. Data centres and export terminals are now bidding for the same US molecules. The question for 2027 is whether turbines, pipelines and Henry Hub can keep up with the chips.

— Jack Prandelli (@jackprandelli) October 15, 2026

🔋 China Connects a Major Compressed CO₂ Storage Plant

China has connected a 100 MW / 1,000 MWh compressed carbon dioxide energy storage plant to the grid in Xinjiang. The project marks a major step for an alternative storage technology designed to help balance electricity supply and demand as renewable generation grows.

China’s first 100 MW/1,000 MWh compressed CO2 storage plant connects to grid: China Huadian has achieved the first grid connection of its 100 MW/1,000 MWh compressed CO₂ energy storage plant in Xinjiang, marking a… 🔗 Link in Bio #Photovoltaics #EnergyStorage #RenewableEnergy https://t.co/yzUy5sFRlv

— pv magazine (@pvmagazine) October 16, 2026

🌱 Bioenergy Demand Grows as Its Uses Shift

Global bioenergy demand is projected to rise from around 50 EJ in 2025 to 66 EJ by 2060. While wood, crops and agricultural residues remain major sources, demand is expected to grow in transport, electricity generation and manufacturing, shifting use beyond traditional heating in buildings.

. Smart chart... Bioenergy demand is set to grow, but the mix will change In 2025, global bioenergy demand is about 50 EJ. By 2060, it is projected to rise to 66 EJ. Biosolids (wood, crops, residues) remain the largest source in both years. Biogas and biofuel grow significantly by 2060, while biowaste stays relatively small. By sector - Buildings currently use the most bioenergy (22 EJ), but their share falls by 2060. - Transport, power stations, and manufacturing all increase their use. - Power stations and manufacturing become bigger consumers. By region Demand grows across North America, Europe, China, Southeast Asia, Latin America, India, and Sub-Saharan Africa. No single region dominates. In short, total bioenergy use increases, but the growth shifts from traditional heating in buildings toward transport, electricity, and industry.

— World Data Analysis (@World_Data_A) October 15, 2026