The sharp increase in corporate energy demand is transforming the global energy market, forcing energy suppliers to rethink how they support development and deliver value. According to a new study by EY, two-thirds of companies are concerned about access to secure sources of energy needed for development, and 64% say that rising and volatile energy costs are already affecting their profitability and competitiveness. With energy now seen as a critical driver for growth and not just an operational cost, this volatility is creating significant uncertainty for companies across all sectors.
These are the main conclusions from the EY Navigating the Energy Transition research program, which this year surveyed more than 2,400 decision-makers from large and mid-sized companies in eight markets around the world. The study highlights the urgent need for suppliers to reinvent the way they deliver energy services to corporate consumers, given that electricity demand is expected to double by 2050 and that three quarters of this growth will be represented by companies.
“Amidst the increase in energy demand and price volatility, companies in Romania increasingly feel the need for reliable, sustainable and locally tailored energy solutions. With over 70% of businesses moving towards electrification and reducing emissions, it is essential that energy suppliers become active partners in their customers’ development strategy. Energy is no longer just an operational cost – it is becoming a strategic differentiator for competitiveness and sustainable growth,” said Mihai Drăghici, Partner, Consulting, EY Romania.
Companies want both growth and sustainability, not one or the other
The research found that more than 70% of companies plan to increase their efforts towards electrification, reducing emissions and managing energy costs in the next three years. However, outdated technologies, siloed operations and limited skills related to this sector have created dissatisfaction among many companies with their suppliers, leading them to consider other options.
And the pressure to ensure access to sustainable energy sources is increasing. 70% of companies plan to invest in their own energy production and battery storage systems, seeking a greater degree of autonomy and control. At the same time, sustainability remains a priority, but not at the expense of growth. The position of companies is firm: they expect customized solutions that support both objectives, and if the energy supplier cannot provide this, they will find one that can, or they will act on their own.
Energy strategy has now become a business strategy
According to the EY study, 71% of companies have defined energy strategies, and the majority are actively looking to strengthen their energy capabilities through internal development, acquisitions or partnerships. However, 42% of respondents said they want energy suppliers to act as energy champions, not just suppliers. Only a third of companies are currently open to the possibility of suppliers taking on more advanced roles, such as platform coordinators or solution providers, highlighting a significant gap between perception and positioning.
As demand grows and expectations change, the message from companies is clear: suppliers must act quickly to transform the way they deliver energy services. This involves providing smarter, personalized solutions and digital tools, including artificial intelligence, which 71% of companies want to integrate into their energy interactions.