The COVID-crisis situation is a potential gamechanger. Discussions of a return to normal and the prospect of an emerging new normal are underway. The pandemic has already dramatically influenced the balance of supply and demand in energy markets and highlighted an increasing focus on new digital operating models as well as immediate improvement in urban air quality. Energy organizations are successfully demonstrating their resilience to keep the lights on for people around the world, however the crisis has the potential to trigger a perfect storm of conditions favourable to bankruptcy across the energy sector.
To help energy organizations prepare for what comes next, the World Energy Council is convening its global community to facilitate a deeper exchange of energy systems expertise and has identified a set of post-crisis scenarios. While it is not possible to predict the future, by using plausible and alternative scenarios it is possible to engage diverse perspectives, to make sense of the chaos, and to explore and rehearse new pathways for progressing a shared and compelling vision of successful global energy transition.
What might the post-crisis new normal look like?
How will the energy industry adapt?
Can the global energy transition be kept on track?
What are the expectations on the COVID crisis legacy and climate change policies impact?
How strongly will the pandemic and isolation affect international collaboration, value chains and global trade?
Will funding of energy transition, e.g. renewable energy, clean hydrogen and other programmes continue in the face of uncertainty?
How to strengthen the whole system resilience considering the risks of recurrence of such pandemics in the future?