The head of the ROSSETI Group spoke about the prospects for the development of the global electric power industry

Against the background of turbulence in the oil and gas industry, many countries are rapidly developing the electric power industry, said Andrey Ryumin, head of the ROSSETI Group, speaking at the plenary session "Sustainability as a Response to Geopolitical Shocks," the central event of the Russian Energy Week 2026 forum.

"The development of the electric power industry should proceed in advance, at a faster pace than other industries, so that there is no energy shortage. However, a new data center can be put into operation in two years, and the construction of generation and networks usually requires more time. At the same time, according to the IEA, in order to meet the expected demand for electricity by 2035, it is necessary to increase the global network capacity by more than 30%. We all understand that this will require huge infrastructure construction, which means a significant amount of investment," said Andrey Ryumin.

According to the International Energy Agency (IEA), investments in the global fuel and energy sector will reach 3.4 trillion dollars in 2026. Of these, $2.2 trillion, or more than half, will be invested in power grids, generation, energy storage systems, and electrification in general. However, as Ryumin stressed, the introduction of new capacities is not enough: to meet the growing demand, it is important to introduce innovations. He named energy storage devices, which are becoming key elements of the energy system, among the most in-demand technological solutions in the world. The ROSSETI Group is developing this technology: a project has already been implemented in the South of Russia, and plans for the construction of storage facilities in the Far East are being discussed.

Also, the world, including the BRICS countries, is actively implementing DC technologies that are used to efficiently transmit power over long distances. ROSSETI has already started construction of a direct current line in the Central part of Russia. The possibility of building another major transit in Siberia is being considered.