Zurich have been busy pondering on back-up plans for this winter’s discontented energy market. The high wholesale prices and political brinkmanship over Ukraine could well lead to rationing of gas, electricity and even nuclear power generation across Europe, as nations compete to keep the lights on in voters’ homes and businesses. Other nations, such as those in the Gulf have already begun to ration oil and gas by restricting supply via the OPEC group, which naturally benefits their interests as the wholesale price goes up again.
Meanwhile Russian gas and oil is being sold via third parties in the Far East, so any increase in prices actually benefits Russia in financial terms. While this re-run of the “Grand Game” from the 19th century is being played by oligarchs, monarchs and corrupt regimes, ordinary people will go cold and hungry. Nothing changes.
Here’s the word from Zurich Resilience;
In a new whitepaper “Powered up: Avoiding the shock of an energy shortage with business continuity planning”, experts from Zurich Resilience Solutions provide advice for risk managers on how companies can strengthen their resilience against potential energy shortages in Europe through robust business continuity planning.
Jean-Pierre Krause, Chief Risk Engineering Officer, said: “Taking steps early to prepare for the eventuality of shortages is critical for businesses. It can help them develop the plans they need to keep their business open and pipelines of goods and services flowing. However, it is equally important that we all reduce energy consumption now. Every kilowatt hour of energy saved today helps to reduce the risk of a shortage.”
The whitepaper stresses the steps that businesses should consider to lessen the risk that a critical power shortage will affect their operations. That means businesses must analyze business processes, define vulnerabilities, develop procedures, implement plans and revise them when necessary. Experience shows that exceptional situations are handled best with proactive measures that anticipate problems, allowing quick and effective action when challenges arise.
You can download the whitepaper here.
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