The energy sector is experiencing a huge blow due to the COVID-19 impacts in terms of delaying energy transition projects due to reduced supply chain regarding imports from foreign countries. Many countries have also initiated the delay for paying the utility bills and this has severely impacted the entire energy sector. This outbreak has also contributed to a decreased demand for oil, resulting in plummeting oil prices. All these factors has put the energy sector industries at potential bankruptcy situations.
Source
Mylenka, T. (2020, April). Impact of Covid-19 on the global energy sector. PV Magazine.
Tetiana Mylenka, "Impact of Covid-19 on the global energy sector", contributed by Namitha Sunny, The Energy Rights Project, Platform for Experimental Collaborative Ethnography, last modified 8 June 2020, accessed 26 April 2024. https://energyrights.info/content/impact-covid-19-global-energy-sector
Critical Commentary
The energy sector is experiencing a huge blow due to the COVID-19 impacts in terms of delaying energy transition projects due to reduced supply chain regarding imports from foreign countries. Many countries have also initiated the delay for paying the utility bills and this has severely impacted the entire energy sector. This outbreak has also contributed to a decreased demand for oil, resulting in plummeting oil prices. All these factors has put the energy sector industries at potential bankruptcy situations.