Transformation and Future Vision of the Electric Power Industry Looking Ahead to a World After the End of Carbon Neutrality Momentum — Part I

　In January 2024, projections for electricity demand across Japan suddenly shifted to an “increase.” These demand forecasts, published annually by the Organization for Cross-regional Coordination of Transmission Operators, Japan (OCCTO), had until then followed a long-term downward trend. While this was, of course, partly attributable to advances in energy-saving technologies, it also hinted at the stagnation of the Japanese economy. Japan, once the world’s second-largest economy by GDP, was overtaken by China in 2010 and then by Germany in 2023, and now ranks fourth. Against this backdrop, the decline in electricity demand had been one of the more dispiriting indicators, evoking a sense of waning national strength.
　
　Then, in a complete turnaround, the outlook shifted to long-term demand growth…