WEC COVID-19 SURVEYS

WEC conducted two surveys on the impact of the COVID-19 pandemic on the energy industry at the end of March 2020. The aim was to find out what difficulties companies are facing in their daily business in the face of the corona pandemic and what effects are seen in terms of medium and long-term supply trends. The results have now been presented.

According to the surveys, 50% of the respondents stated that the virus has a major impact on their businesses and the impact on energy companies is extensive and severe. The main consequences are: falling demand, reduced productivity and cash flow problems. Working from the home office and increasing digitalization is the best way for energy companies to maintain operations in times of corona crisis.

43% of the respondents expect the negative effects to peak in 1 to 3 months, another 41% in 6 to 12 months. In the long term (period of one year or more) structural changes in energy consumption and a change in the energy source mix are expected. Above all, COVID-19 is expected to cause a significant increase in the energy demand of households. The energy demand of industry, on the other hand, is expected to decrease. The demand for petroleum products and coal is expected to decline significantly. The respondents were also of the opinion that cyber questions and energy storage will become more relevant in the long term.

You can access the survey results under the links on the left.