Energy transition through the high peaks

With rising public awareness, lower prices of renewables and client-pressure to decarbonize, almost every large international company  has plans now for a corporate energy transition. Many energy buyers have seen ambitious targets for buying green energy land on their desks in the past three years.

This has resulted in a boom of PPA negotiations, with corporates rushing in to contract green electricity directly with windmill and solar park developers.

 

For some companies, it looked like greening the energy supply was a clear run. But then the pandemic caused prices to first drop to record lows and then to increase by a staggering 457% for natural gas and 376% for electricity in less than 18 months (German prices – similar movements in most other European countries).  

Other parts of the world saw their own move from low to high, although only APAC saw similar levels of extreme volatility. It was a strong reminder of the fact that the choices you make when buying energy, green or traditional, have an enormous financial impact.

With this double challenge of greening the energy supply and facing unprecedented volatility shocks, buying energy has become more difficult than ever. What’s more, according to the World Energy Outlook 2021 recently launched by the IEA, this volatility is here to stay: “the world is underinvesting now for future energy consumption, which will make the transition to net-zero emissions unstable”.

The way to respond to these future energy needs, the organization said, is to boost clean energy investment across all technologies and all markets. The report remarks: “if the supply side moves away from oil or gas before the world’s consumers do, then the world could face periods of market tightness and volatility”.

Then, with the current situation, which steps could be taken by large energy consumers regarding their energy transition?

Join our 5th TEC and don’t miss the opportunity to hear the experts analyse this juncture and point you towards solutions.

A unique occasion for networking and exchanging with peers, energy buyers in large international companies, is waiting for you!

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