India, Sept. 23 -- Cost-effective technologies could raise the share of electricity in global energy consumption to around 33 per cent today, putting the world within reach of a 35 per cent electrification target by 2035, according to a new International Energy Agency (IEA) analysis.

The IEA's Special Report on Electrification comes amid two ongoing energy supply shocks: disruptions to energy flows linked to the conflict in the Middle East and persistent concerns over energy affordability. The report says these pressures are prompting countries to look at electrification as a way to reduce dependence on imported fuels, strengthen energy security and lower exposure to fossil fuel price volatility.

Electricity is playing a growing role in...