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New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
From uncertainty towards independence – one path to self-sufficient energy systems
14/12/2022
6 min read
Feature
Global industry accounts for a significant proportion of energy consumption and the sector faces increasing pressure to turn to renewables. Here, Stefan Hufnagl from energy software provider COPA-DATA, explains why industrial consumers should consider becoming more independent from energy markets to reduce energy costs and ensure stability.
Recent years have brought unprecedented challenges to the energy market. Geopolitical instability, mounting concern over environmental impacts and ever-increasing energy demand have led to significant economic issues and highlighted the unsustainability and fragility of our energy networks. It’s clear that a transition to a cleaner, safer and more secure energy supply is needed – but how can we make that happen?
For industrial energy consumers, this issue is more pressing than ever. With a dependence on large amounts of energy to power important processes, it is key that a reliable supply is maintained at a reasonable and predictable cost. In light of such uncertainty on the grid, now is the time for industry to consider ways to become independent from volatile markets.
To do this, consumers could follow an evolutionary model. Many energy users are ‘gross consumers’ and only consume energy produced and supplied by the utility companies. Though this is straightforward and removes the need for in-house energy generation, with ongoing shifts in supply and demand, striving to be self-sustainable should be the end goal.