Energy Markets Volatility: The Rocky Road to Net Zero

According to the International Energy Agency, COVID-19 initially lead to a “staggering” decline in energy demand and depressed energy prices. Less than two years later, we are now faced with the cost of energy at an all-time high. Rapidly growing demand and, more recently, the Russian invasion of Ukraine, are driving energy prices to unprecedented highs and challenging security of supply. It is against this backdrop of uncertainty that we are simultaneously attempting to avert climate disaster through how we generate, store, use and manage energy. Should renewable or net zero carbon targets be postponed or is this all part of the rocky road to net zero?