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Other economic analysis

Energy Efficiency and Competitiveness

Danish firms are among the most energy-efficient in the world. High energy efficiency strengthens Denmark’s competitiveness if energy prices rise because the pass-through to producer prices is less pronounced in Denmark than in the competitor countries. Oil prices have nearly quadrupled over the past 10 years, boosting the wage competitiveness of Danish industry by approximately 9 per cent, equivalent to a reduction in hourly wages of kr. 27. Foreign countries are slowly catching up with the high energy efficiency of Danish industry, as it is easier and cheaper to invest in a proven technology than to develop a new one. Thus, it is increasingly difficult to maintain a competitive edge.