As the world economy and population grows, the World Energy Council envisages that global energy demand will increase and even double by 2050, meaning investments of around USD 25.7 trillion in electricity generation alone.
Today’s power and energy companies face significant and wide-ranging risks. A rig accident or oil spill can have environmental and reputational impacts. Power blackouts due to ageing infrastructure, weather, and human error can cause severe interruption to supply. International political and social elements cause market implications across Europe, with the likes of Iran now back in the fold and Saudi Arabia prioritizing market share versus underwriting the oil price. Local regulation also poses complications for production and distribution.
While renewable energy is a significant player, the ever-rising level of investment in unconventional gas as part of the world’s energy revolution not only means investments of approximately USD 2.9 trillion, but also entering into unchartered territories. Environmental risk assessments are necessary to understand better how to best exploit its potential.
Marsh’s Energy and Power Practice can help you to navigate these challenges. We advise you on risk and insurance issues impacting operational and financial success throughout the entire energy and power value chain. By reducing your total cost of risk, managing volatility, and providing advice and solutions that enable you to invest confidently for the future, we help you to succeed.
Our teams provide their expertise in an array of fields, including engineering, construction, claims, benchmarking, innovative placement solutions and training.