Surely EVs would change the equation. Also increasing installation of heat pumps vs gas heating.
Perhaps, my point was an electricity supplier that invested a ton of money in the early 2000s assuming that aggregate demand will keep growing forever would have been in for a rough time.
A variety of factors may or may not make a future where aggregate electricity demand would increases, or stagnates, or even declined.
> Electricity demand in the U.S. held steady for 15 years but, last year, it increased by 3%— marking the fifth-highest rise this century. More jumps are projected for years to come.
https://www.eia.gov/energyexplained/electricity/electricity-...
Total electricity generated has been relatively flat for a couple decades.