The global energy crisis has had far-reaching implications for consumers, businesses and entire economies, highlighting the importance of the global energy transition and boosting energy efficiency, while creating opportunities for innovation and investments in renewables and green technologies. Timely and effective business strategy adjustments and contingency plans are key to cope with energy price fluctuations and cost pressures, and to address the changing consumer behaviour.
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High demand, limited supply, climate change and regulatory changes are all driving up energy pressures for economies, businesses and consumers. Energy demand is rising rapidly in developing countries, outpacing supply growth, while infrastructure constraints, high reliance on fossil fuels and low investment add extra pressure. While developed countries are under pressure to phase out fossil fuels, better access to green technologies offers opportunities to boost resilience.
Euromonitor’s Global Energy Vulnerability Index shows countries most susceptible to energy market risks due to poor energy resources, high imports reliance, and struggles to attract financing. While low self-sufficiency raises the exposure of European and many Asian economies, sub-Saharan Africa continues to struggle with a wide gap in energy access and underinvestment. Assessing market vulnerability is key to identify potential areas for growth, adaptation and innovation.
Energy intensive industries, such as chemicals, minerals, metals or packaging face the highest risks from energy market shocks. Production disruptions in these industries may have ripple effects on global supply chains and the economy. While the energy crisis has encouraged firms towards investing in renewables and energy-efficient equipment, small-scale changes also provide opportunities to reduce costs and improve business resilience and profit margins.
Rising energy prices and the subsequent cost-of-living crisis disproportionately affect low-income earners, raising price sensitivity and awareness about energy efficiency. Consumers in Europe and Latin America are most susceptible to rising energy pressures. While minding the importance of affordability, there are opportunities for companies to become consumers’ partners in the journey to energy efficiency, spending optimisation and sustainability.
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