5
The current energy industry landscape is facing more significant
uncertainties and potential major inflection points than at any
time since the 1970s
Market
Technology
Policy &Regulatory
Geopolitics
Climate
Key areas of uncertainty
⦁ Commodity market volatility (diverse energy mix, supply /demand imbalance)
⦁ Capital markets
⦁ Customer preferences
⦁ Renewables levelized cost curves
⦁ Emerging innovative technology (e.g. geothermal, nuclear fusion)
⦁ AI /robotics /quantum acceleration /cyber security
⦁ Policy commitment to energy transition
⦁ Administrative state powers
⦁ Reporting and compliance requirements
⦁ Trade wars and re-shoring impacting supply and demand
⦁ Significantly increased risk of global conflict
⦁ Likeliness of global climate agreements
⦁ Extreme weather events
⦁ Resiliency /reliability challenges
⦁ Timing and impact uncertainty
Context Setting