On 8 May, the World Energy Council (WEC) proudly unveiled its latest report, Valuing Industries – The Trade-offs of Industry Strategies in a Changing Energy Landscape, coordinated by PwC, at the Royal Theater in The Hague. This landmark event brought together leaders from across the energy sector to explore the future of energy-intensive industries (EII) in Northwest Europe.
The report highlights the mounting pressures Energy Intensive Industry faces due to rising energy prices and the costs of the energy transition. It challenges conventional thinking by asking whether relocating industrial activity truly benefits long-term prosperity and calls for a robust societal cost-benefit analysis (MKBA) to guide public debate.
Four future scenarios for 2040 are presented:
- Full retention with renewable energy and green hydrogen
- Full retention with natural gas and CCS
- Partial relocation
- Full relocation
The study emphasizes the critical role of market mechanisms in resource allocation and urges further quantitative research. With the competitiveness of Energy Intensive Industry at a tipping point, the time for decisive action is now.
This aftermovie captures the energy, insights, and urgency of the day. Let’s take a look back at the conversations that will shape our industrial and energy future.