The merge will reduce worldwide electricity consumption by 0.2%.

Analysis

Prior to the Merge (September 2022), Ethereum's proof-of-work (PoW) mechanism consumed ~112 TWh/year (Digiconomist, 2022), roughly 0.2% of global electricity (~28,000 TWh in 2022, per IEA). Post-Merge, Ethereum's energy use dropped by ~99.95% (Ethereum Foundation), eliminating this consumption. The 0.2% figure aligns with these estimates.

Background

The Merge transitioned Ethereum from PoW to proof-of-stake (PoS), drastically reducing its energy demands. Global electricity consumption data from the IEA and Ethereum's pre-Merge energy estimates from Digiconomist provide the basis for this calculation.

Verdict summary

Vitalik Buterin's claim that the Ethereum Merge would reduce global electricity consumption by ~0.2% is accurate based on pre-Merge estimates.

Sources consulted