strategies due to energy security concerns – and these continue to impact energy prices . The World Economic Forum ’ s Fostering Effective Energy Transition 2023 report states that after a decade of progress towards , clean , sustainable energy – those efforts have stalled as countries are shifting their focus towards energy security .
Businesses face the same challenges – securing energy at a manageable price point and maximising their efficiency to reduce total cost .
Cheap and stable energy tariffs are a thing of the past , which means that real cost optimisation requires dedicated action and more efficient and sustainable processes – especially for heavy industries with a high energy burden .
Part of that action is securing supply , especially for those heavy industries that still rely on non-renewable energy sources . The transition to clean , renewable energy is a long-term challenge – realistically 10 to 20 years – especially for these heavy industry manufacturers , so reducing consumption overall can assist in that transition .
Changing regulations around emissions are also driving the need to optimise energy usage and reduce an organisation ’ s carbon footprint . Failure to meet targets can mean heavy fines or even plant shutdowns .
In Europe , crucial pieces of legislation are in the pipeline , including the Green Deal Industrial Plan and the EU Net Zero Industry Act . These are driving the need for traditional industries to adapt and drive
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