BDO counts on specialized teams in the advising of companies in energy and renewable energy sector, helping them to meet the challenges that the energy business faces, to transform these into future opportunities, with maximum security and transparency.
Within the energy market as a whole, the electricity sector in Spain represents approximately 7% of the industrial sector and faces numerous challenges:
- The continuous search for efficiency: The competitiveness of the industry is highly conditioned by electricity tariffs. In the case of Spain, these are higher than those of the other countries in our environment which causes a downward pressure on sectoral revenue.
- Regulatory changes: Historically, the sector regulation has always been evolving to fit the circumstances
- Overcapacity: The severity and depth of the economic crisis experienced since 2007-2008 has caused a slowdown in the growth of electricity demand, becoming negative, so that demand in 2016 has been approximately the same as in 2005
- New technologies: The energy and electricity market is transforming like other industries due to digital transformation. Smart grids, smart meters, the opportunities that digitalization offers along the value chain, productivity tools are aspects to consider in strategy design
International commitments on emissions reduction and the development of renewable energies show that they have a long way to go.
The oil and gas sector is not free from radical changes either, the continuous electrification of society in general and of mobility in particular, combined with the fight against climate change, is a challenge that will require innovation and, above all, diversification in industry to adapt to the new circumstances.
Given this scenario, the customer is at the centre of the sector's strategy. Helping to use the new tools that allow a more efficient use of energy, to save energy and reduce the costs, is a long-term winning strategy and what the market has as the main challenge in the next few years.
At BDO we provide audit and assurance services, business consulting services, forensic and corporate finance, legal and tax services for companies in the energy sector as a whole. We are a reference in specialized advice for companies and entities of the public, private and renewable energy sector