Businesses Push for Growth and Sustainability as Energy Demand Soars, According to New EY Research

Businesses Push for Growth and Sustainability as Energy Demand Soars, According to New EY Research

(IN BRIEF) New EY research reveals that businesses are increasingly focused on electrification, emissions reduction, and managing energy costs, with over 70% of companies planning to increase focus on these areas over the next three years. As energy demand soars, 66% of businesses are concerned about securing reliable energy, and 64% report rising energy costs impacting profitability and competitiveness. The research shows a clear demand for tailored solutions that support both growth and sustainability, with businesses investing in on-site energy generation and battery storage. With 71% of businesses defining energy strategies, the role of energy providers is evolving. Companies expect providers to act as energy advocates, delivering more intelligent, tailored solutions, including AI integration. Energy is now a competitive asset, and those who adapt to these demands will unlock new growth and shape a resilient energy future.

(PRESS RELEASE) LONDON, 1-May-2025 — /EuropaWire/ — In the face of a rapidly evolving global energy landscape, new EY research reveals that businesses are increasingly recognizing the need to rethink their energy strategies, focusing on electrification, emissions reduction, and energy cost management. The research, part of EY’s Navigating the Energy Transition program, highlights that over 70% of businesses plan to intensify their focus on these areas over the next three years, while simultaneously navigating the challenges of unstable energy costs and the rising demand for reliable power sources.

The survey, which involved over 2,400 decision-makers from large to mid-sized businesses across eight global markets, shows that 66% of businesses are concerned about securing reliable energy for growth. Meanwhile, 64% have already felt the impact of rising energy costs on their profitability and competitiveness, with many facing difficulties in balancing energy needs and business growth.

Greg Guthridge, EY Global Industrials & Energy Customer Experience Transformation Leader, emphasized that managing energy demand is no longer just about maintaining basic operations. “Successfully navigating accelerating business energy growth will drive energy prosperity and fuel the intelligent economies of the future,” he said.

Looking ahead, businesses are clear that they want both growth and sustainability, not one or the other. The survey reveals that 70% of companies plan to invest in on-site energy generation and battery storage to enhance self-sufficiency. However, sustainability efforts are not to come at the expense of business growth, and businesses are now demanding tailored energy solutions that can balance both. Should their current providers fall short, many are prepared to explore other options or take the energy management into their own hands.

Serge Colle, EY Global Power & Utilities Leader, added: “Energy is no longer just a commodity, it’s a competitive asset — and providers that offer the right mix of expertise, insight, and collaboration will be the ones that help businesses unlock long-term value.”

According to the research, 71% of businesses have already defined energy strategies, with many looking to strengthen their energy capabilities through partnerships or acquisitions. However, 42% of businesses expect their energy providers to take a more proactive role as energy advocates, not just suppliers. Despite this, only a third of businesses are open to energy providers stepping up as platform orchestrators or solution providers, highlighting a disconnect in expectations.

The research also shows that businesses are eager to adopt intelligent, tailored solutions, including the integration of artificial intelligence (AI) into their energy interactions. 71% of businesses surveyed expressed interest in having AI tools incorporated into their energy solutions.

Guthridge emphasized that there is both significant opportunity and risk for energy providers: “The stakes are high. But so is the opportunity. Providers that act now — by engaging with business customers in new ways and rethinking their role in the energy ecosystem — will not only unlock new growth, but help shape a more resilient, sustainable, and prosperous energy future.”

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SOURCE: Ernst & Young Global Limited