Energy Magazine October 2022 | Page 5

FOREWORD

Price to pay

Energy prices are soaring around the world . While the rising cost of living is causing a crisis in many households , and businesses count the cost of turning on their lights each day , some energy firms are enjoying record profits .
This can lead to negative optics , but energy firms like many others live in a world of risk and reward . You only have to look at , say , the cost of building a new nuclear power station to see the GDP-like investments that many power giants face in a bid to turn a profit .
Of course , rising costs also bring opportunity , making previously nice-to-have but economically unviable alternatives a genuine option . So while oil and gas companies may currently be enjoying life in the sun , every day makes renewables such as solar more attractive . These are truly interesting times .
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