Every major industrial shift had a defining resource. Today it is electricity. AI, electrified mobility and grid renewal are driving demand the existing infrastructure cannot meet – creating a structural investment opportunity across the full value chain. Picard Angst and IFS Ltd. have built a systematic answer: The AMC AGE OF ELECTRICITY.
2×
Electricity demand growing vs. overall energy consumption
2,700 TWh
Projected supply gap by 2030 – equivalent to EU annual consumption
$5.8tn
Forecast grid investment through 2035
Sources: IEA, Bloomberg, Goldman Sachs, Picard Angst CCC
Electricity is becoming the backbone of the modern economy and one of the world's most constrained strategic resources. There are three structural shifts – none of them cyclical:
- AI & data centres – large-scale computing requires uninterrupted, large-scale power; could account for ~50% of U.S. demand growth by 2030
- Electrification of transport & heating – EVs and heat pumps increase baseline demand
- Reindustrialisation & energy security – governments onshoring manufacturing and prioritising domestic power capacity
Accelerated Growth of Electricity Demand
Electricity demand growth by source category – U.S. and World, 2015–2025 vs. 2025–2030
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Industry
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Cooling
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Heat pumps
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Data centers
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Rest of buildings
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Transport
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Other
Source: IEA, Bloomberg, Goldman Sachs, Picard Angst CCC.
The infrastructure to support this transition cannot expand fast enough
Critical components – transformers, HVDC cables, gas turbines – face delivery times of 4–10+ years due to years of underinvestment and limited manufacturing capacity.
Securing copper, uranium and rare earths are becoming strategic priorities as material demand accelerates against constrained new supply.
The Bottleneck is Physical and It's Already Here
Months to delivery by equipment type
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2019
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2022
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2026
Source: Bloomberg NEF, IEA, JP Morgan, Picard Angst CCC.
The electricity supply gap could reach 2,700 TWh by 2030. Equivalent to the EU's annual consumption.
AGE OF ELECTRICITY
Energy & Commodities
Copper, uranium, lithium and rare earths – the resource foundation of electrification
Utilities & Power
Power producers and grid operators with regulated revenues and long-term contracts
Equipment & Infrastructure
Transformers, cables and power generation equipments – the physical backbone of the energy transition
Currency
AMC USD
Trading Start
POWERZ 10.06.2026
Issuer
SIX ZKB AAA
ISIN
CH1511285913