OECD energy consumption fell in 2014 despite higher generation

New statistics by IEA have recently been published. It highlighted that even though the total OECD energy production rose 4% in 2014 to a record high, energy consumption among member country states fell, as did carbon dioxide fuel consumption.

They have advised that carbon dioxide emissions have remained steady despite economic growth. Furthermore it is the first decoupling on a worldwide basis in the 40 years the Agency has provided information on emissions.

The key factor in recent decoupling is a decline in energy intensity of OECD countries’ economies. This is the result of greater energy efficiency and warmer seasons.

Findings include:

1. Reductions in greenhouse gas emissions are partly due to a 9.7% surge in the share of renewables other than hydropower.

2. Total renewables generation has reached an all time high.

3. Oil remained the largest source of emissions for OECD countries.

4. The combination of higher production and lower demand resulted in another year of declining OECD energy imports which in 2014 fell to levels last seen in 1995.