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Energy will depend on a variety of factors , including company size , the importance of energy in final cost of products , and company culture ; for many , a combination of in-house and outsourced capabilities will make the most sense .
To keep up with a rapidly changing market and facilitate their sustainability goals , European energy-intensive industrial companies should consider creating or updating their energy procurement strategies . There are a variety of approaches that they can employ , singly or in combination , to optimize prices , achieve cost predictability , and secure supply . By implementing a thoughtful energy procurement strategy , industrial companies could increase profit margins , support their sustainability programs , and improve the chances of remaining competitive in the marketplace . ■
For a list of the sources used in this article , please contact the editor .
However , there are alternatives with a lower carbon footprint , such as biogas or hydrogen
McKinsey ’ s Electric Power and Natural Gas Practice
This article is a collaborative effort by Diego Hernandez Diaz , Per-Anders Enkvist , Karl Murray , Piotr Pawlowski , Gonçalo Pinheiro , and Thomas Weenink , representing views from McKinsey ’ s Electric Power and Natural Gas Practice . McKinsey & Company is a global management consulting firm committed to helping organizations create Change that Matters . In more than 130 cities and 65 countries , its teams help clients across the private , public , and social sectors shape bold strategies and transform the way they work , embed technology where it unlocks value , and build capabilities to sustain the change .
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