ING says grid congestion risks slowing electro-tech revolution as power demand surges
XLU•Demand growth and capacity upgrades
The IEA expects new electricity uses to add more than 10,000 TWh of demand between 2024 and 2035, intensifying strain on networks.
ING estimated near-term measures such as demand-side flexibility and transmission upgrades could unlock up to 1,600 GW of additional global capacity.
Europe’s Grid Package targets EUR 472 billion to lift transmission capacity 50% by 2040, while China retains an edge from faster buildout.
Grid congestion seen as a bottleneck for electrification
ING Wholesale Banking flagged grid congestion as a key bottleneck for electrification, forcing power producers and large users into multi-year connection queues.
In several developed markets, new grid connections can take 4-9 years, raising delay risk for power projects, data centers, and industrial expansion.
