Could rising energy prices leave the industry out in the cold?

Energy prices have been rising across the world over the past weeks. Energy prices fluctuations have already occurred in the past, but this time the world is emerging from a global pandemic and high gas and power prices could hamper recovery. End consumers impoverished by covid-19 are now faced with higher bills, and businesses are either pushed out of the market or forced to scale down operations. Governments are scrambling to address of spiking energy prices, industry structures are being affected and competition in energy markets is being undermined. Should the coming winter be colder than usual, prices risk climbing even higher.

Where is this energy crisis coming from and what are its drivers going forward? What further policies will governments and the European Union introduce? What is the perspective of natural gas suppliers such as the Gulf states and Russia? And will the global energy transition slow down as a result of rising energy prices? Giorgio Corbetta, Senior Associate in Global Counsel’s energy practice, will discuss these questions with a panel of energy policy experts across Global Counsel practices: Lilah Howson-Smith, a Senior Associate in our London office covering UK politics and policies; Ahmed Helal, a practice lead in our MENA region operations, currently based in New York, and Frederick Michell, who is an associate in our Central and Eastern Europe practice covering Russia.

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