E-world Energy & Water: We Can't Afford to Repeat the Mistakes of the Past

Recently, I had the pleasure of attending E-world Energy & Water, the premier event where the European energy industry congregates. As of often is the case with such important events, my primary goal was to delve into the significant trends shaping the energy markets and support my colleagues.

This blog aims to share my observations, key leanings and takeaways from the event, shedding light on the re-calibration the energy sector is undergoing and the uncertainties it faces. I will also emphasise the importance of collaboration and doing what is right at present and for our future.?

Observations

At E-world energy & water , I had the opportunity to meet numerous industry professionals, including clients, and suppliers, as well as make new other valuable connections. Engaging in conversations with them allowed me to gain valuable insights into the challenges and opportunities present in today's energy landscape, both with respect to traditional energy complex (#power, #gas, #coal) as well as clean energy sources. The latter as we know is of paramount importance not only in regard to our action on climate change but also to national and international security as highlighted by the still ongoing brutal invasion of Ukraine.

The latter has recently been found to cause a net increase of 120 million tonnes of greenhouse gases in the first 12 months of the war, the consequences of which only add more harm to human suffering and the destruction we witness currently.??

In the light of #energy crisis, which appears to be contained at least for the time being, I can’t think of a better event to discuss the most current challenges and threats both to the energy sector and industry as a whole.??

I also attended two captivating talks that broadened my perspective:?

"Fit for 55 from a German Perspective"

This talk provided an in-depth analysis of Germany's approach to achieving climate goals outlined in the #Fitfor55 policy. Understanding the German perspective on de-carbonisation strategies has always been crucial for Redshaw Advisor in identifying potential collaboration opportunities and aligning our business objectives accordingly. In particular, I enjoyed listening to Florian Rothenberg from ICIS succinctly taking the audience through the key aspects of the regulatory and market developments in the #EUETS.???

"Net Zero"?

The discussion on achieving net-zero emissions underscored the urgency and complexity of the energy transition. It also emphasised the need for innovative solutions and collaboration across sectors to combat climate change effectively. What was particularly interesting to me was getting a better understanding of how German municipalities and district heating networks address the challenge of decarbonisation.

Learnings

E-world Energy & Water offered invaluable insights into the current state of the energy sector. Here are the key learnings I took away from the event:?

Energy Sector Recalibration

The energy sector is currently undergoing a significant recalibration due to a crisis of uncertainty. The challenges to its transition to clean technologies we have known for decades have only been exacerbated by the war in Ukraine, but equally, the war gave an impetus to people of the free and democratic part of our world to accelerate this transition (let’s not forget that in order to meet our own goals we need to deploy renewables in the EU at twice the speed we are doing it now!).??

While progress has been made, macroeconomic pressures, such as recession, inflation and supply chain challenges, hinder further advancements. Acknowledging this recalibration is vital for navigating the evolving landscape effectively. The EU and its member states have undertaken a huge task of reforming energy markets in order to prevent the huge price swings we experienced last year to happen again.??We simply cannot afford to repeat the mistakes that led to this crisis.

Long-Term Focus

In an era of uncertainties, it is crucial to avoid getting caught up in short-term thinking. By shifting our focus to medium and long-term strategies, we can better adapt to changing market dynamics and ensure sustainable growth for our businesses and the energy industry as a whole. A great example of this is the growing interest of industries of securing longer-term contracts be there for energy or environmental products.???

Doing What's Right

Amidst the complexities of the energy transition, it is essential to prioritise doing what is right. Whether it involves embracing renewable energy sources, implementing energy-efficient practices, or fostering collaborative partnerships, taking ethical and sustainable actions will pave the way for a greener future.?

Key Takeaways

Reflecting on my time at E-world Energy & Water, I came away with several key takeaways:?

Emphasise Collaboration

To address the challenges ahead, we must focus on what unites us rather than what sets us apart. By fostering collaboration among industry stakeholders, we can overcome hurdles and drive meaningful change, particularly in transitioning away from fossil fuels. A good example is set by industrial associations who more often then not, work towards advancing the transition to cleaner and more secure energy.??

Acknowledge Complexity

The energy industry's transformation is undoubtedly more complicated than anticipated. It requires us to navigate through intricate interdependencies and engage with various stakeholders. By acknowledging this complexity, we can develop robust strategies that account for all relevant factors.?

Hope for the Future

Despite the uncertainties, there is hope for a brighter future. Our shared vision of sustainability and our commitment to climate goals can propel us forward. Together, we can shape the energy landscape into one that is environmentally conscious, economically viable, and socially equitable.?

Call to Action

I invite you to reach out to me for further discussions, collaborations, or inquiries. Let us build upon the learnings and experiences gained at E-world Energy & Water to drive positive change in the energy industry. Together, we can overcome challenges, explore innovative solutions, and forge a sustainable future.?

Contact me at [your contact information: email, phone number, or website] to continue the conversation and join forces in shaping a cleaner and greener energy landscape.?

Thank you for reading, and I look forward to hearing your thoughts?

Kuba Hiterski?

Senior Advisor ? Environmental Markets - Central Europe?

Redshaw Advisors?