2024 Business Energy Census

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ENGIE Unveils Key Trends for Renewable Energy Buying in North America

Second annual Business Energy Census highlights growing demand for renewables, strategic focus and expectations of higher prices and volatility

HOUSTON – ENGIE Resources, a leading commercial electricity provider and America’s Energy Greentailer™, in collaboration with Energy Research Consulting Group (“ERCG”), today announced the release of the second annual North American Business Energy Census. This comprehensive report offers valuable market insights and opinions from over 100 aggregators, brokers and consultants (ABCs), representing approximately 1.07 million end-use customer locations, reinforcing ENGIE Resources’ position as a thought leader in the Renewable Energy space.

As an affiliate of ENGIE North America (ENGIE) and part of the ENGIE Group, a global leader in the Net Zero energy transition, ENGIE Resources aims to deliver journey-specific insights from diverse firms across various geographical locations, revenue brackets and business models. “As the energy landscape evolves, accurate supplier data and industry statistics are crucial for shaping a sustainable energy strategy,” said J.D. Burrows, Vice President of Customer Analytics and Engagement at ENGIE Resources. “Our goal is to empower businesses with actionable insights that drive informed decisions and the adoption of green energy solutions.”

Based on months of comprehensive research, ENGIE’s annual Business Energy Census report highlights the evolving energy sector and the growing importance of strategic energy management for businesses of all sizes. Survey participants include a spectrum of roles, spanning from owners and C-Suite executives to sales and operation managers. The 2024 Business Energy Census identifies several mega-trends that indicate heightened volatility and uncertainty in the energy market, including:

Trend One – Shifting Strategic Perspectives – 57% of respondents, up from 43%, in the previous year, believe that the strategic importance of energy has grown to reach a point of equilibrium. This change aligns with the stabilization of energy prices and growing confidence in the effectiveness of existing energy strategies.

Trend Two – Forecast of Rising Prices and Volatility – 40% of respondents expect power and natural gas prices and volatility to increase, suggesting a need for more robust risk management strategies.

Trend Three – The Rise in Green Premium Acceptance – There is an increase in willingness to pay a premium for Green Energy. 62% of customers are willing to pay a small premium, compared to 56% in 2023, indicating a growing acceptance of green energy solutions. Year to year, we have also seen a decrease from 28% to 18% of survey participants who said their customers are not willing to pay any premium at all for renewable energy. These trends could be an indication of the future of energy and an increase in company initiatives to transition to net-zero emissions.

Trend Four – From Policy to Action: Strengthening Regulatory Support – Respondents expressed a notable lack of confidence in the regulators’ ability to structure markets conducive to fostering three principles: competition, transparency and innovation. Despite the overarching sentiment, there is a marked improvement in attitudes compared to 2023, hinting at a growing belief that regulatory support is on an upward trajectory, albeit slowly.

Trend Five – Driving Forces: Energy’s Impact on Mergers and Acquisitions – 45% of respondents reported that energy prices and volatility are less of a disruptive force in deterring or delaying major initiatives such as mergers, acquisitions and expansions compared to previous years. This shift indicates a stabilizing effect of the energy market on strategic corporate decision-making.

Trend Six – From Data to Decisions: Empowering Stakeholders with Market Insights – 48% of Texas respondents believe that current market information is inadequate for making informed decisions, surpassing the national dissatisfaction rate by 11%. There is a clear indication that market participants are advocating for more and better energy market information.

“Too often, we hear from people outside our industry telling us what business customers are looking for in their energy solutions,” said Young Kim, Principal at Energy Research Consulting Group. “It is about time that our industry speaks for itself. I am proud to partner with ENGIE Resources to cover the most pressing energy issues affecting the business community and to reveal key insights that our industry can use.”

Through the 2024 Business Energy Census customers and partners can find observations that confirm the strategy to support the development and delivery of green energy solutions for power and gas customers.

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Chart 1 Energy Census

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About ENGIE North America

Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. Together with our 97,000 employees around the globe, our customers, partners and stakeholders, we are committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. In North America, ENGIE helps our clients achieve their energy efficiency, reliability, and ultimately, their sustainability goals, as we work together to shape a sustainable future. We accomplish this through: energy efficiency projects, providing energy supply (including renewables and natural gas), and the development, construction and operation of renewable energy assets (wind, solar, storage and more). For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, www.linkedin.com/company/engie-north-america-inc and twitter.com/ENGIENorthAm.

About Energy Research Consulting Group (ERCG)

Energy Research Consulting Group (ERCG) provides business intelligence and consulting services to energy market participants on entry strategies, investment opportunities, and market & policy dynamics. For more information about ERCG’s experience, research and consulting offerings please visit: www.ercg-us.com.

Media Contacts:

ENGIE North America: Michael Clingan, michael.clingan@external.engie.com, (832) 745-6057

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2023 Business Energy Census

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Results identify key trends within retail energy market

HOUSTON – ENGIE Resources (“ENGIE”), a leading commercial electricity provider and America’s Energy Greentailer™, has teamed with Energy Research Consulting Group (“ERCG”) to develop the inaugural North American Business Energy Census. The study measures, tracks and uncovers insights from aggregators, brokers, and consultants (“ABCs”) through survey results on current and future trends on energy and sustainability. The findings are based on feedback from ABCs who represent approximately 950,000 customer locations in the U.S.

ENGIE, an affiliate of ENGIE North America Inc. and part of the ENGIE Group, a leader in the Net Zero energy transition, aims to fill a void in the energy space with insight into different topics including price, behavior and market structure while also filling gaps in market intelligence through the Business Energy Census results.

“This census is the result of months-long research that included extensive surveys with responses from a range of firms varying in geography, revenue, and business model,” said J.D. Burrows, Vice President Customer Analytics and Engagement at ENGIE. “This comprehensive, annual survey report will help provide a better roadmap for the future of energy in North America and provide the knowledge and tools to help energy decision-makers stay ahead of the curve.”

The commercial – or B2B – energy market is a dynamic landscape that is constantly changing due to various domestic and global factors. Four key trends with implications and opportunities for each were uncovered in the North American Business Energy Census.

Trend One – Energy: A Surging Force in Business – The report revealed 51% of organizations view energy as more strategic in organizations over the past year. The increasing role of energy in strategic planning emphasizes the importance of energy managers and Chief Sustainability Officers as key contributors to corporate decision-making and long-term growth.

Trend Two – Progress or Profits? A Balancing Act – Results showed that more than 70% of customers are willing to pay some premium for renewable energy supply. However, 56% are only willing to pay a small premium of 1-5% as customers seek balance between sustainability goals and price sensitivity.

Trend Three – Growth Amid Chaos: Energy Volatility in M&A and Expansion – 54% of customers report energy prices and volatility have some impact on major initiatives such as mergers, acquisitions and expansions.

Trend Four – Adapting to Evolving Energy Price Trends – There is a general agreement amongst ABC firms that energy price volatility and energy prices will increase in the coming months. Price predictions vary based on the geographic location of ABC firms. Mid-Atlantic and Midwest-based firms predict higher energy prices in 2024 while New York and New England-based firms predict lower prices. Regardless of region, every ABC firm is expecting higher energy price volatility next year.

“Based on the fantastic turnout in the survey, there is clearly some pent-up demand for actionable intelligence on energy topics at the intersection of price trends and sustainability,” said Young Kim, Principal, Energy Research Consulting Group (ERCG). “ERCG is proud to support ENGIE Resources in these efforts to provide research and insights sourced from the ABC community, who have their fingers on the pulse of customer needs and pain-points.”

Overall, the energy industry is rapidly evolving and the growing importance of energy management for businesses is emphasized in the inaugural North American Business Energy Census findings. ENGIE Resources provides these results to encourage discussion and increase confidence in energy and sustainability strategies. To view the complete survey report, visit engie-na.com/2023census.

Census Report Graphs

 

Launched in 2023, this analysis contains insights that are the first of its kind in the energy industry.

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About the ENGIE Group
The ENGIE Group (made up of ENGIE S.A. and its subsidiaries and affiliates) is a global leader in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. ENGIE S.A. (ENGI), is listed on the Paris and Brussels Stock Exchanges.

In North America, ENGIE companies have delivered integrated, innovative energy solutions to public and private organizations for nearly half a century. We employ approximately 3,000 people focused on enabling our customers to become more sustainable and achieve their decarbonization targets through expert project delivery and competitive solutions. For more information on ENGIE in North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.

About Energy Research Consulting Group (ERCG)
Energy Research Consulting Group (ERCG) provides business intelligence and consulting services to energy market participants on entry strategies, investment opportunities, and market & policy dynamics. For more information about ERCG’s experience, research and consulting offerings please visit: www.ercg-us.com.

Media Contacts:
ENGIE North America: Michael Clingan, michael.clingan@external.engie.com, (832) 745-6057

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Ocean Winds awarded a 2 GW floating offshore wind project in California

Ocean Winds, ENGIE’s joint venture held 50/50 with EDP Renewables and dedicated to offshore wind, was awarded a lease area for a floating offshore wind site of 2 GW capacity by the U.S. Bureau of Ocean Energy Management (BOEM).

Ocean Winds and its partner the Canada Pension Plan Investment Board (CPP Investments), through their 50/50 joint venture Golden State Wind, was awarded a lease area of 325[X] km2 in the Morro Bay area, off the central coast of California. It is one of five sites that was the subject of an auction held by the BOEM.

The future offshore wind farm will have a capacity of 2 GW, generating enough energy to power the equivalent of 900,000 homes. This will bring California and the U.S. closer to meeting their clean energy goals of 5 GW of floating offshore wind generation by 2030 in California, and 15 GW by 2035 in the U.S.

This auction is the first floating offshore wind lease sale in the US and the first offshore wind lease sale on the West Coast. In North America, Ocean Winds has now about 6 GW under development with this new project in California and its two projects in the East: Mayflower Wind off the New England coast, and Bluepoint Wind off the New York and New Jersey coasts.

In addition to offshore developments, ENGIE has a strong position in North America, with over 4.5 GW of onshore wind and solar projects in operation and construction, to which were added a pipeline of 12 GW of solar and battery storage projects acquired by the Group in 2022.

Commenting, Paulo Almirante, ENGIE Senior Executive Vice President in charge of Renewables, Energy Management and Nuclear Activities, said:

“This new success for Ocean Winds is linked to its pioneer role for more than 10 years in floating offshore wind, with around 4 GW of projects in operation, construction or underdevelopment in Portugal, France, South Korea and the UK. We, at ENGIE, are very proud to contribute to the development of offshore wind in the US, where Ocean Winds is developing now around 6 GW of offshore wind capacity and with significant contribution to the local economy.”

 

About ENGIE

Our group is a global reference in low-carbon energy and services. Together with our 101,500 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. Turnover in 2021: 57.9 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris – Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).

ENGIE HQ Press contact:

Tel. France : +33 (0)1 44 22 24 35

Email: engiepress@engie.com

ENGIEpress

Investor relations contact:

Tel. : +33 (0)1 44 22 66 29

Email: ir@engie.com

About Ocean Winds

Ocean Winds (OW) is an international company dedicated to offshore wind energy and created as a 50-50 joint venture, owned by EDP Renewables and ENGIE. Based on its belief that offshore wind energy is an essential part of the global energy transition, OW develops, finances, builds and operates offshore wind farm projects all around the world.

When EDP and ENGIE combined their offshore wind assets and project pipeline to create OW in 2019, the company had a total of 1.5 GW under construction and 4.0 GW under development; OW has been adding rapidly to that portfolio and is now on a trajectory to reach the 2025 target of 5 to 7 GW of projects in operation, or construction, and 5 to 10 GW under advanced development. In 2022, OW’s offshore wind gross capacity already operating, contracted or with grid connection rights granted reaches 16.6 GW.

OW, headquartered in Madrid, is currently present in 8 countries, and primarily targets markets in Europe, the United States, selected parts of Asia, and Brazil.

More information: www.oceanwinds.com                                    Follow us on LinkedIn

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The New York Times shines light on how old, unused coal plants can help support the energy transition and job growth in the U.S.

Coal plants around the U.S. that consume large areas of land have been shutting down and local communities are impacted due to the loss of jobs and property taxes. The New York Times story mentions ENGIE North America among other companies that are proactively transforming these coal plants into solar, battery and other renewable energy projects which produce clean energy for local power grids.

We are proud to share our story around transforming a vacant coal plant into a solar farm that produces enough clean energy to power 1,800 homes.  

Click here to read the full story.

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