• Over 70% of businesses plan to increase focus on electrification, emissions, and energy costs over the next three years
• 66% are concerned about accessing the reliable energy needed to grow
• 64% of businesses say rising and unstable energy costs are impacting profitability and competitiveness

A surge in business energy demand is reshaping the global energy landscape — and pushing energy providers to rethink how they support growth and deliver value. According to new EY research, two-thirds of businesses are concerned about accessing the reliable energy needed to grow, while 64% say that rising and unstable energy costs are already impacting their profitability and competitiveness. With energy now seen as a critical enabler of growth — not just an operational cost — this volatility is creating significant uncertainty for businesses across sectors.

The findings are part of the latest EY Navigating the Energy Transition research program, which this year surveyed over 2,400 decision-makers at large to mid-sized businesses across eight global markets. The research highlights the urgent need for providers to reinvent the business energy experience, as electricity demand is expected to double by 2050, with businesses expected to drive three-quarters of this growth.

Greg Guthridge, EY Global Industrials & Energy Customer Experience Transformation Leader, says:
“This isn’t just about keeping the lights on. Successfully navigating accelerating business energy growth will drive energy prosperity and fuel the intelligent economies of the future.”

Businesses want growth and green — not one or the other

The research reveals that more than 70% of businesses plan to increase their focus on electrification, emissions reduction, and energy cost management in the next three years. However, outdated technologies, siloed operations, and limited sector-specific expertise have left many frustrated with their providers — and ready to look elsewhere.

The pressure to deliver access to sustainable energy is also intensifying. 70% of businesses plan to invest in on-site generation and battery storage, seeking greater self-sufficiency and control. At the same time, sustainability remains a priority — but not at the expense of growth. Businesses are clear: they expect tailored solutions that support both, and if their energy provider can’t deliver, they’ll find one who can or take matters into their own hands.

Serge Colle, EY Global Power & Utilities Leader, says:
“Energy is no longer just a commodity, it’s a competitive asset — and providers that offer the right mix of expertise, insight, and collaboration will be the ones that help businesses unlock long-term value.”

Energy strategy is now a business strategy

According to the research, 71% of businesses have defined energy strategies, and most are actively looking to build, buy, or partner to strengthen energy capabilities. However, 42% say they want their energy providers to act as energy advocates — not just suppliers. Only a third are currently open to providers taking on more advanced roles such as platform orchestrators or solution providers, pointing to a critical gap in perception and positioning.

As demand rises and expectations shift, the message from business is clear: providers must move fast to transform the energy experience. This includes delivering more intelligent, tailored solutions and digital tools — including artificial intelligence, which 71% of businesses want integrated into their energy interactions.

Guthridge says: “The stakes are high. But so is the opportunity. Providers that act now — by engaging with business customers in new ways and rethinking their role in the energy ecosystem — will not only unlock new growth, but help shape a more resilient, sustainable, and prosperous energy future.”

EY outlines six actions to turn soaring energy demand into lasting prosperity for providers to consider. Find out more here.