Survey: The energy costs of companies have tripled

By: Trademagazin Date: 2023. 03. 07. 11:15

The energy costs of most domestic companies increased by at least three times last year, according to the EY survey of 70 medium and large Hungarian companies. The increased fees prompted the companies to pass on the costs to the customers and to start investing in energy efficiency. The biggest obstacle to development is regulatory uncertainty and a lack of management resources, which requires new approaches from decision-makers.

The energy costs of eight out of ten companies will at least triple in 2022, while almost half of the respondents (46%) experienced at least a fivefold increase. As a response, the vast majority of companies (79%) were forced to at least partially pass on the costs to consumers, as well as to develop a new strategy for the pricing and procurement of products. Based on the results of the research, the industrial sector was able to compensate the cost increase most effectively by raising prices.

“The increase in energy costs was the starting point of a crisis for which company managers only partially have the means to deal with it. The sudden and drastic price increase changed the thinking of company managers. Today, the short-, medium- and long-term management of the issue is on the priority list of all responsible organizations”

– emphasized Levente Kovács, EY-Parthenon’s director and energy market expert.