Unravelling the Energy Crisis: Key Contributors, Impact and Mitigation Strategies

In recent years, one of the central topics within society has been the energy crisis. Its consequences are felt and seen the most when paying the monthly electricity and gas bills, even though the impact is also significant in other sectors than the residential sector, such as the food or transportation industry. When analysing the complete crisis, including causes, consequences and measures taken, it is visible that it remains one of the most complex phenomena of the last decades, as was also stated by Clark Williams-Derry, an energy analyst at the Institute for Energy Economics and Financial Analysis [2]. However, it is crucial to know which events had a pivotal impact, to gain a broader understanding of how economies of different sectors are interconnected. Some of these key contributors will be discussed here, together with the overall impact of the crisis. Finally, some measures taken and consequences are discussed.