Demand

Overall energy demand by industry continued to grow in 2014 to 19.6 TWh, the highest level since 2008. There was a slight decline in overall industrial energy demand between the third quarter of 2014 and the first quarter of 2015.

Looking at industrial energy usage in individual sectors, the iron and steel sector saw the largest increase in demand at 12 per cent from 2013 to 2014. Mining also saw a 5.6 per cent increase in the same period with strong momentum into 2015. Refineries and petroleum products showed weak demand in 2014 due to sluggish global oil and gas prices, but still experienced overall growth. Auto manufacturing demonstrated weak demand as did pulp and paper both of which industries continue to shrink since 2003, down by 7.2 per cent and 10.5 per cent respectively.

Looking ahead to 2032, overall net energy demand is projected to gently increase from 140 TWh in 2014 to 145 TWh in 2032. More embedded renewable generation, better energy efficiency and higher costs of energy would be potential factors driving the growth to a negative number.