Energy

Understanding the energy industry and how RSM supports energy companies

The energy industry encompasses the exploration, production, generation, transportation and distribution of resources that power economies. Key segments include oil and gas—spanning upstream exploration and production, midstream transportation and storage, and downstream refining and distribution—as well as electric power and utilities and a rapidly growing renewables sector, such as wind, solar and energy storage. Together, these segments form an interconnected value chain, with companies balancing legacy operations and new energy investments to meet evolving demand, regulatory requirements and sustainability goals.

RSM works with organizations across the energy industry to help them respond to change with clarity and confidence. Our teams combine industry knowledge with practical insight to help energy companies manage risk, improve performance and position their businesses for long-term resilience.

Energy industry trends

Companies in the energy sector will need to adapt their operations proactively to thrive in an evolving landscape. This imperative applies across the energy ecosystem, whether a company’s segment is oil and gas, power and utilities, or renewable/clean energy.

The evolving energy mix, shifting energy policies and supply chain dynamics are just some of the factors that businesses in this sector face. A continued focus on resilience will be essential for companies to remain competitive.

Here are the top six trends RSM has identified for the energy industry:

Growth across energy sources

The North American energy landscape is experiencing a major transformation. Demand for energy is growing rapidly, fuelled by a combination of factors: increasing data centre needs, the reshoring of manufacturing, widespread electrification and electric vehicle adoption.

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Shifting energy policy and market dynamics

In the United States, a higher-for-longer cost of capital has been driving energy companies toward consolidation and streamlining; it is also prompting them to preserve cash and to focus more strategically on improving enterprise value through margin expansion and additional revenue opportunities.

Digital transformation and the rise of AI

To remain competitive and resilient, energy companies are increasing their adoption of cloud solutions, automation and/or artificial intelligence across business and operational processes, providing improved efficiency, reliability and safety.

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Energy cybersecurity and resilience

As companies across the energy value chain increasingly become digital-first companies—with interconnected systems and automated business and industrial processes—more opportunities arise for cybercriminals to compromise businesses and disrupt critical operations.

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Supply chain shifts

Tariffs and an evolving trade environment will continue to affect organizations' supply chains and investment decisions, with direct impacts ranging from higher prices for key metals like steel and copper as well as finished goods, to extended lead times for some items.

Workforce transformation

Companies must adopt more intentional and innovative approaches to attract and retain talent, especially as employee expectations and demographics continue to evolve. The rapid advancement of AI and the digitization of operations demand that the current workforce adapt through upskilling and reskilling.

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Middle market energy industry outlook

RSM’s The Real Economy: Industry Outlook for energy provides insights into the major trends shaping North America’s energy industry throughout the year. In recent editions, our industry analysts examine how demand growth and delivery constraints are affecting power and utilities companies, oil price expectations, and grid modernization for legacy energy infrastructure. We also highlight actionable strategies and solutions to help energy businesses navigate these challenges and remain competitive.

Energy industry services and solutions

RSM provides integrated services designed to address the complex needs of the energy industry. Our professionals work with energy companies throughout the business lifecycle, helping them navigate operational challenges, regulatory requirements and strategic change.

We bring a practical, middle market perspective to assurance, tax and consulting services, helping energy organizations align strategy, operations and risk management in a dynamic environment.

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