> in developed Western countries, grids are actually significantly oversized

Your sources really only apply to Britain and other deïndustrialising countries. American and European energy demand is rising due to electrification and AI.

For Europe at least, measured numbers are flat or slightly falling: https://www.iea.org/regions/europe/electricity

I accept that AI is likely to take us in the wrong direction for a while. (I don't think it will actually be that long, once people realise that more training isn't getting more results.)

In the US, iirc replacing combustion cars and heating with EVs and heat pumps are larger contributors - the inflation reduction act and various incentives have been pretty successful, and as a consequence, electricity demand has been growing much quicker recently than in the previous couple decades.

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How much of Europe is still electrifying? Or I suppose you mean migrating fossil fuel heating loads to electric?

> migrating fossil fuel heating loads to electric?

Yes.