The energy transition is no longer just a matter for the energy companies alone. Consumers are more independently looking to fulfil their energy needs 100% sustainability and are considering alternative local technolgies to limit CO2 as far as possible. In addition, more and more independently operating companies are actively working to take charge of, monitor and/or accelerate their own energy transition, where possible. This trend will start impacting on the entire energy market and the roles that the various parties play in it.
Tehre is a transition taking place from conventional generation to sustainable energy, there are major variations in energy prices and energy firms are wrestling with the changing market conditions. The climate objectives strike to the sector’s core, as does far-reaching liberalisation. Energy companies will have to adapt accordingly and new players will enter the market, particularly at points of convergence between different sectors. A good example of this is electric transport.
At KPMG, we help companies and public authorities to adjust to these changing market conditions. We support our customers in the realms of strategy, implementation, technology, audit & assurance and deal consultancy, but with a sector-based approach.
Based on conversations with our customers, we highlight the following relevant themes/trends in the market:
- Increased e-mobility
- Rollout of Smart & Micro Grids
- Corporate Power Purchase Agreements (PPAs)
- Expansion of renewable energy and storage
- Re-evaluation of conventional energy
- Decommissioning of offshore assets in the Netherlands
- Cost reduction and investments
- Investing in hydrogen
- Digital customer engagement
- Chemicals: Reducting CO2 and transition to green chemicals
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Corporate Power Purchasing Agreements
Businesses account for two thirds of global electricity consumption. At the same time, environmental and climate changes are regarded as the biggest threat to sustained growth.
Making energy consumption more sustainable is an important option for firms to reduce their CO2 footprints. Various options for doing so may be identified.
KPMG supports companies – both within the Netherlands and in an international (sometimes global) context – in developing, realising and implementing a sustainable energy strategy, completely tailored to the specific preferences of those parties with regard to desired risk, anticipated environmental impact and operational aspects.
Hydrogen
Hydrogen is one of the pieces in the puzzle that is achieving climate neutrality, in particular due to its various applications. Hydrogen – in particular green hydrogen – has a very varied character, both in terms of production (derived from overproduction of green electricity of from specific green wind farms) and in terms of use (as an energy carrier to replace oil and gas or as a feedstock for the chemicals industry).
Hydrogen appears indispensible to a truly climate-neutral economy. This means that the value chain of hydrogen production, distributionon and use needs to be set up. This offers opportunities, but also presents investment risks for parties who want to set up the hydrogen economy.
KPMG helps companies and investors with setting up new business models and evaluating investments in the entire hydrogen value chain. KPMG also helps companies weigh up the use of electrification, hydrogen and other alternatives for climate neutrality.
E-Mobility
E-mobility is a development that is helping shape the new mobility ecosystem. Existing and new forms of transport are increasingly being propelled by climate-friendly energy sources, with far-reaching consequences for existing value chains and physical infrastructures. As such, e-mobility represents both an opportunity and a threat to existing parties. In combination with the trend towards new usage models and ownership forms, new business models are arising that are already visibly changing the mobility landscape. Often they are associated with new entrants backed by a lot of venture capital that compete with conventional modalities.
The investments for this ‘transition within the transition’, like the expectations, are high. KPMG helps businesses and investors evaluate e-mobility investments and assess the risks to existing business models. KPMG also helps in translating new models to applications of existing processes and models.
Smart grids
Although the energy transition has actually started, we are still only near the start. A large number of different pilot projects are underway, but they are not yet large in scale and really embedded in business operations. The network operators, suppliers and producers face complex challenges. What will the business model be? Which supplementary services are anticipated with the increasing fluctuations in supply and demand?
Smart grids are an important key in the energy transition. With the help of technological applications, local supply and demand can be better matched and peak loads avoided. But in order to be able achieve smart grids successfully, there are challenges in terms of market model, financing, cybersecurity and more. KPMG helps companies meet these challenges.
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Partner Global Strategy Group - Deal and Growth Strategy
KPMG in the Netherlands
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