Falling budgets are top IT worry for energy firms

Tech spending by energy trading companies is set to plummet in 2016, survey finds

plug

The crash in crude oil prices, distress at traditional electricity utilities and other industry woes are having an impact on the technology spending practices of energy trading firms. Budget constraints are now viewed as the number one IT challenge facing energy companies, according to the 2016 Energy Risk energy trading and risk management (ETRM) software survey.

Some 79% of respondents said their company's IT budget for this year had stagnated or decreased from 2015, in the survey of 245 indus