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Electricity Procurement Intelligence
The electricity category is anticipated to grow at a CAGR of 8% from 2023 to 2030.
In 2022, the category size was estimated to be valued at USD 1.79 trillion. Emerging and expanding economies in Asia are the driving forces for increasing growth. Policy, technology, and consumer preferences are all factors affecting how the globe consumes electricity. The category's growth is being driven by the electrification of everything from cars to buses to high-speed railways, as well as the expansion of access to reliable energy in emerging countries. Electric automobiles can increase a home's usage of electricity by more than 50%. Global power consumption continues to shift proportionally as countries' populations and economies expand faster. It has increased around four times faster than global energy consumption. Global demand for the category is also increasing, owing mostly to a rise in wind, solar, natural gas-fired generating, and nuclear.
Order your copy of the Electricity category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Electricity Procurement Intelligence Report Scope
The Electricity category is expected to have pricing growth outlook of 2% - 3% from 2023 to 2030, with below pricing models.
- Spot pricing model
- Hourly pricing model
- geographic location pricing
Supplier Selection Scope of Report
- Cost and pricing
- Scalability
- integration capabilities
- safety
- compliance
Supplier selection criteria of Report
- Lean supply
- service support
- coverage
- risk management
- technical specifications
- operational capabilities
- regulatory standards and mandates
- category innovations
Electricity Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Electricity Procurement Cost and Supplier Intelligence
The cost of producing electricity can be classified into three categories: fixed, semi-fixed, and operating or running cost. The annual cost of fuel, lubricating oil, maintenance and repair along with operating staff pay, all contribute to the total cost of the category. All of these costs are based on the plant's energy output; the operating cost is precisely proportionate to the number of units produced. Residential and business consumers typically have higher retail prices due to the distribution distance. As compared industrial clients have lesser retail prices, as they require more electricity and receive it at higher voltages, making it efficient and cost-effective for the suppliers. Fuel prices and availability, building costs, and fixed costs are the primary drivers of category pricing. The global annual average prices in 2022, by major types of customers vary as per the requirement. The residential consumers paid USD 0.15 per kWh, business customers paid USD 0.12 per kWh, industrial customers paid USD 0.08 per kWh, and transportation users paid USD 0.11 per kWh.
The major approach large electricity buyers use is to engage with the correct type and number of suppliers. Identifying potential to cut purchase administration costs, as well as savings through volume discounts and lower logistics costs. Procurement professionals establish and implement plans that promote a leaner supply chain and efficient operations by staying vigilant regarding market developments. Another element that is being examined and is increasing in demand is companies turning carbon neutral. The category is also responding to buyer needs by expanding its coverage, and services. NextEra Energy has a market capitalization of USD 152.8 billion. TotalEnergies, ranked second, with a market value of USD151.6 billion.
List of Key Suppliers
- NextEra Energy (U.S)
- TotalEnergies (France)
- TAQA (U.A.E)
- Southern Company (U.S)
- Iberdrola (Spain)
- China Yangtze Power (China)
- Duke Energy (U.S)
- Enel (Italy)
- National Grid (United Kingdom)
- EDF (France)
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
Browse through Grand View Research’s collection of procurement intelligence studies:
Enzymes Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Cold Chain Logistics Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
