Rio Tinto tops the list as the biggest energy user on the ASX200.
That’s according to Macquarie analysts, who compiled a list of the top 10 energy users as part of their latest equities research report.
Not surprisingly, the big miners rank highly. But while Rio comfortably tops the list, BHP has made notable reductions to its energy use since 2014.
Among the listed companies who report their energy usage, here’s the top 10 (measured in giga-joules):
The data was compiled by Macquarie analysts in their summary of the key environmental, social and governance (ESG) themes to arise out of the August company reporting season.
According to Macquarie, reporting season for the 2017 financial year showed that addressing the problem of rising energy costs was now becoming an increasingly urgent priority (emphasis ours):
A dominant theme during the results season was the lamenting of rising energy costs by CEOs. While a long-standing theme, FY17 represented a collective mea culpa for corporate Australia, with the realisation that energy costs were now taking bite-sized chunks out of operating margins.