Energy firms affected by extreme weather

The majority of energy companies have already been affected by extreme weather events according to a survey led by the World Energy Council for Global Electricity Initiative.

It surveyed the chief executives of businesses that account for 80 per cent of worldwide installed generation capacity and found that around 94 per cent had already been affected by extreme weather.

In the survey chief executives ranked energy access and security of supply amongst their highest priorities for business. 89 per cent said it is important to have an agreement for global greenhouse gas (GHG) emissions in place and 72 per cent have already introduced measures in order to limit the emissions of greenhouse gases.

The Executive Chair of Global Electricity Initiative, Philippe Joubert has said, “Utilities consider the introduction of a meaningful agreement on GHG emissions reduction a priority. For them the real price of CO2 is a fundamental to trigger a shift in utilities’ business models. What will be decided at COP21 in Paris will thus be fundamental to the future decision utilities choose.”