How much could your business save? Find out now!
Or, you can call us on: 0800 411 8830

World energy demand ‘slowing’: BP


The growth in global demand for energy has slowed, with greater generation from renewables, a new report suggests.

Statistical Review of World Energy, released by BP, said global energy consumption increased by just 0.9% in 2014, a level not seen since the late 1990s. The greater role played by renewable energy meant that carbon emissions from energy use grew by just 0.5%.

As we have previously explained, the way energy is generated is rapidly changing, although BP also noted the importance of oil supply outstripping demand (global oil consumption grew by 0.8%, while oil production grew by 2.3%) and the importance of ‘fracking’ and the ‘gas revolution’, especially in the US. Globally, production increased for all fuels except coal and renewable energy saw the fastest growth rate, now making up 3% of global energy needs.

A Chinese move away from energy-intensive sectors like steel production also contributed to a changing energy picture.

BP chief executive Bob Dudley said that the events of 2014 “may well come to be viewed as symptomatic of a broader shifting in some of the tectonic plates that make up the energy landscape”.

Compare business energy

The rapid changes in the energy industry offer a valuable opportunity for UK small to medium sized businesses to get a better deal on their business gas and electricity. But many are too busy to spend the hours needed to compare business energy suppliers.

We understand that energy is not the priority for busy SME owners. Leave it to us instead: SwitchMyBusiness.com can switch you to a new business gas or electricity supplier in just 20 minutes. Simply complete the form on the top right of this page or call 0330 0100 251.

Related Articles

working from home

Can I have a business energy contract if I work from home?

The gig economy is showing no signs of slowing down and micro businesses are thriving, with 76% of UK business...

Read More
New design electricity pylon used in Nottingham

Energy News – 21/04/17

What with the announcement of a snap election and all the ensuing shenanigans it’s certainly not been a quie...

Read More
eco trees image

Earth Day Brainteaser – can you find the footprint?

Can you find the foot amongst the leaves? Challenge yourself with our brainteaser, created to celebrate Earth ...

Read More
Excellent, 9.7 / 10

Very easy

"Very easy. Bea Luseni very efficient & knowledgeable."

This review was posted by Alan Duffy on the 31st of March 2017

Super helpful and easy to work with

"Recommend this company in a heartbeat - Nicole Borneuf was super easy to talk to, was not pushy in the slightest, very helpful and replied with all my questions very professionally and did all she could to help. I had to deal with a few companies to sort my business energy out, all but Nicole were too pushy for my liking and I refused to follow through with them. Thank Nicole - you are a credit to your company, thank you for making the stressful energy change so easy."

This review was posted by Mia Drew on the 29th of March 2017

An Extremely Competent Company

"Switch my business has not only helped my SME secure a good energy deal for the second year running but Jessica swiftly found a alternative supplier for me when I was let down on the day of switching by the new contractual provider I had chosen some 4 months previously. Being suddenly out of contract and without provider is everyone's energy nightmare. Greatest thanks."

This review was posted by S McMillan on the 29th of March 2017

Helpful, friendly and we saved lots of money!

"Jessica Purnell was helpful and friendly, she made the whole process easy and simple AND we saved lots of money thanks Jess"

This review was posted by Melanie Baker on the 23rd of March 2017

Quick & Easy

"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."

This review was posted by Amanda Brown on the 21st of March 2017