Electricity is set to dominate energy demand by mid-century, doubling to a 45% share as cars, buildings and manufacturers quickly shift away from fossil fuels, according to a global energy transition report. Increased electrification bodes well for renewable power sources, but the anticipated surge falls well short of meeting the Paris Agreement’s goals for limiting climate change. And it will force a hefty overhaul of the role of electricity suppliers, large and existing fossil fuel generators and oil companies. Global energy demand is expected to peak in the mid-2030s at around 470 exajoules per year, or 17% higher than it was in 2016. It will fall to 450 exajoules by 2050, according to the report by DNV GL, a Norway-based risk management group.