The electricity consumption in Kuwait will grow by 5.3 percent annually until 2015 due to the increasing demand for water and the growth of population, Kuwait Financial Center (Markaz) said in an economic report on Monday.

Despite the public awareness campaigns about rationing the power consumption, the state subsidy for power and the relatively low price rates drive the consumption up, according to the report.

The population will grew from 3.68 million at present to 4.34 million by the end of 2017, the International Monetary Fund (IMF) forecasts.

The Ministry of Electricity and Water predicts that demand for electricity will expand from 11,000 megawatts at present to 25,000 megawatts in 2030.

Based on these data the Markaz report showed that the electricity sector needs investment of up to USD 25 billion in the coming decade The ministry is responsible for power generating and distributing and is in charge of the country's seven power generating stations which have a total capacity of 13,233 megawatts, the report noted.

Kuwait uses between 200,000 and 300,000 barrels of oil daily to produce 71 percent of its needs of electricity.

Renewable energy sources could cover 2 0 3 percent of the country's aggregate needs, the report added.