Energy management as a remedy for the energy crisis in Europe
Firms are grappling with an energy crisis and cost crisis exacerbated by the conflict in Ukraine.
Europe is facing complex and uncertain economic prospects.
Companies are grappling with an energy crisis and a cost crisis exacerbated by the war in Ukraine. Even short-term positive developments do not diminish the challenges faced by European industries, particularly those heavily reliant on energy, due to high gas and electricity prices that are likely to remain elevated for some time.
High energy prices can threaten Europe’s competitiveness.
High energy prices can undermine Europe’s competitiveness, cause market share losses, and incentivize companies to relocate to countries with lower energy costs. Not only Germany, which associates a large manufacturing sector with high energy consumption in industrial production, but also other European countries remain vulnerable to the consequences of the energy crisis. While concerns about deindustrialization may be exaggerated, European policymakers face complex compromises as they adapt to the new energy market reality.
What can we do about energy consumption in the current situation?
We can reduce energy consumption. There are 3 ways to achieve this:
The first approach is technical solutions.
The second approach is working with data.
The third approach is working with people, which helps involve the employees of the organization in changes in consumption. And all three solutions in synergy of cooperation can bring organizations sustainable and lasting results in energy consumption savings.
A long-term solution is energy management and the implementation of its system and principles into the structures of the company.