ManagingUnprecedentedElectricityDemandGrowthonthePathtoNetZeroEmissionsAPRIL2024|WorkshopReport1EFIFOUNDATIONProjectTeamErnestJ.MonizCEOandPresidentAlexKizerSeniorVicePresidentandChiefOperatingOfficerMadelineGottliebSchomburgDirectorofResearchMichaelDowneyDeputyChiefOperatingOfficerTatianaBrucedaSilvaProjectManagerandContributingSeniorAnalystBethDowdyResearchFellowGraceMcInerneyResearchInternAdditionalContributorsJosephS.HezirExecutiveVicePresident,TreasurerMelanieA.KenderdineExecutiveVicePresident,CorporateSecretaryCommunicationsTeamDavidEllisSeniorVicePresidentofPolicyStrategy&OutreachAliciaMoultonDeputyDirectorofCommunicationsBenCunninghamGraphicDesigner,MGStrategy+DesignCopyEditingDanielleNarcisseM.Harris&Co.JaneHirtM.Harris&Co.WorkshopParticipantsArizonaPublicService(APS)Arnold&PorterCleanAirTaskForce(CATF)DukeEnergyEnergy+EnvironmentalEconomics(E3)EFIFoundationEntergyElectricPowerResearchInstitute(EPRI)GEVernovaGridStrategiesMicrosoftNationalAssociationofRegulatoryUtilityCommissioners(NARUC)NoviStrategiesNewYorkIndependentSystemOperator(NYISO)PJMInterconnectionSouthwestPowerPool(SPP)STACKAmericasWilkinsonBarkerKnauer,LLP2EFIFOUNDATIONReportSponsorsTheEFIFoundationwouldliketothankArizonaPublicService(APS),DukeEnergy,andGEVernovaforsponsoringthiswork.Allcontentinthisreportisindependentoftheirsponsorship.SuggestedCitation:EFIFoundation.“ManagingUnprecedentedElectricityDemandGrowthonthePathtoNetZeroEmissions.”April2024.©2024EFIFoundationThispublicationisavailableasaPDFontheEFIFoundationwebsiteunderaCreativeCommonslicensethatallowscopyinganddistributingthepublication,onlyinitsentirety,aslongasitisattributedtotheEFIFoundationandusedfornoncommercialeducationalorpublicpolicypurposes.www.efifoundation.org_____________________________________________________________________________________________TheEFIFoundationadvancestechnicallygroundedsolutionstoclimatechangethroughevidence-basedanalysis,thoughtleadership,andcoalition-building.UndertheleadershipofErnestJ.Moniz,the13thU.S.SecretaryofEnergy,theEFIFoundationconductsrigorousresearchtoacceleratethetransitiontoalow-carboneconomythroughinnovationintechnology,policy,andbusinessmodels.EFIFoundationmaintainseditorialindependencefromitspublicandprivatesponsors.Coverphoto:iStock©2024EFIFoundation3EFIFOUNDATIONTableofContentsSummary...................................................................................................................................4Introduction................................................................................................................................51.Recentprojectionsarelikelyunderestimatingactualloadgrowth...........................................82.Region-specificapproachesarenecessaryformanagingnear-termloadgrowth..................103.Stakeholderalignmentiscriticaltomeetthedualchallengesofloadgrowth:managereliabilityandplanfordeepdecarbonization.............................................................................154.Stakeholdersareseekingflexibilitytomanageloadgrowthuncertainty................................16Conclusionandnextsteps........................................................................................................19References.............................................................................................................................