Navigating a dynamic energy landscape
Australian businesses have had a big competitive advantage: access to cheap electricity and gas. However energy costs have risen significantly in recent years, elevating energy to a top tier strategic issue for many companies. Many decades of low energy costs led to levels of energy productivity that are poor relative to our international competitors. This means local businesses are more exposed to recent, rapid rises in energy costs than they need to be. This exposure is eroding the competitiveness and profitability of businesses, and worsening economic outcomes for Australia.
Raising the sophistication of energy management practices among energy users requires capacity building at all management levels. However there is a particular and urgent need to build the capacity of directors and executives to analyse and actively manage energy as a strategic issue. Building this capacity over time will ensure that appropriate energy strategies are put in place to manage risks and capture opportunities, and that staff are mobilised to respond appropriately.