Energy in words #3 | Security
Nelson Lage, President of ADENE – Portuguese Energy Agency
Energy security used to mean making sure we had enough supply. Now, it is about having power in many ways.
It is not just about physical power. It is also about economic, strategic, and geopolitical power, too. In a world of shocks, fragmentation, and global competition, energy security has moved from the margins to the very centre of national and corporate strategies.
Energy security is no longer about how much energy we have, but about where it comes from, how exposed it is, and who controls it.
This is why energy security is now at the centre of governments, banks, and global organizations’ strategy. As Fatih Birol from the IEA has said many times, energy security and the clean energy transition are no longer two separate agendas. They are two sides of the same coin.
Recent events have made this clear, and we cannot ignore it anymore. Problems with supply, sudden price changes, and geopolitics turnovers and conflicts have all shown us how energy security and economic safety are linked. When energy security is weak, prices go up, investments slow down, and countries lose some control.
Energy Security changes the way to decide about the economy.
For governments, this means reducing dependence on a single source, diversifying suppliers, and strengthening the resilience of energy systems. For companies, it means assessing risks arising from volatile markets, fragile supply chains, and regulatory uncertainty. Energy security is now a strategic concern that business leaders must actively address, not just policymakers.
Europe knows this well. Its heavy use of imported fossil fuels made it easy for outside events to cause big alerts and damage. Russia’s invasion of Ukraine showed how vulnerable Europe was. Now, more renewables, electricity, and energy-saving measures are seen as ways to help with climate change and to make European and world economies stronger and less dependent on others.
Security is not about shutting others out. It is about having diversified, predictable, and resilient energy systems that can recover from problems. Clean energy helps us because it makes us less vulnerable to global risks and price changes.
Today, energy security is not about keeping things as they were. It is about making sure we are safe in the future.
In a world where competition is growing, those who do well in energy security do more than manage risks. They build independence, strength, and a safer economy.
