In 2022, the energy prices paid by businesses soared, after having already risen at the end of 2021. Electricity prices, which had risen by around 3% on average a year since 2010, rose by 38% for businesses between 2019 and 2022. Within the same period (2019-2022), gas price doubled, whereas it was on a downward trend since 2013.

In addition, these price rises were much faster for companies that consumed the most energy. While this was not previously the case, companies consuming a lot of gas are now paying more per unit than companies consuming little. Electricity prices, on the other hand, remained higher for small consumers, but the gap between small and large consumers has strongly narrowed. The price increase experienced by each establishment depended on the kind of contract endorsed, its duration and its expiration date. Price rises affected more establishments whose gas and/or electricity contracts were indexed on market price. Within industrial sector, most of high energy-consuming establishments opted for this kind of contract; they suffered therefore higher price rises than small consumers, who were more likely to subscribe to fixed-price contracts. The bargaining power of largest energy consumers probably fell down as a result of the geopolitical context. Establishments with fixed-price contracts ending in 2022 also encountered very high price rises.

In 2022, the energy bill of industrial establishments with 20 or more employees rose by 54%, while their energy consumption fell by 5%. This was the second consecutive year in which their energy bills rose sharply (after +40% in 2021).

Industries that consume the most energy were those that reduced their energy consumption the most in 2022. Plants manufacturing basic chemicals and paper pulp, and those working in the steel industry encountered a sharp drop in production during 2022 second half.

The rise in energy prices affected manufacturers both directly and indirectly, through higher prices for their intermediate inputs. Facing rising energy prices, industrial establishments have also adjusted their prices and margins: one in two establishments said they raised their prices in 2022, and 45% cutted their margins. 36% of these industrial establishments adapted their production or working process, and 29% invested to reduce and optimise their consumption within the medium term. These adaptations were part of a trend that began before the energy crisis, also in response to environmental concerns.