As of press time on July 24th, electric power stocks have risen against the market, with a 7.16% increase to HKD 3.59; a 5.39% increase to HKD 2.15; and a 4.16% increase to HKD 22.55.$CGN POWER (01816.HK)$Rising 7.16%, at HKD 3.59;$DATANG RENEW (01798.HK)$Rising 5.39%, at HKD 2.15;$CHINA RES POWER (00836.HK)$Rising 4.16%, at HKD 22.55.

IEA predicts that global electricity demand will increase by 4% in 2024, the highest level since 2007 (excluding the abnormal rebound after the 2010 global financial crisis and the demand collapse caused by the COVID-19 pandemic in 2021). The strong growth in global electricity demand will continue until 2025, with a growth rate of about 4%.

The report pointed out that the reasons for the surge in global electricity demand include hot weather and strong economic growth, especially in China, India, and the United States.

Due to strong economic activity and intense heat, India's electricity demand is expected to surge by 8% this year; due to strong activities in various industrial sectors including the service industry and clean energy manufacturing, China's electricity demand growth rate will also exceed 6% this year; American electricity demand is expected to rebound by 3% this year due to stable economic growth, rising cooling demand and the expansion of the data center industry.