Perspectives

The Inequality of Telco Energy Costs

June 2026

Abstract

From Ugly Airtel to Gorgeous stc: The Tale of the Inequality of Telco/CSP Energy Costs

Energy costs are one of the most overlooked sources of competitive disadvantage in telecom. This research note exposes a striking reality: based on data from TÉRAL RESEARCH's and MTN Consulting's Telecom Energy & Sustainability (TES) research program, energy makes up anywhere from 0.3% to 18.1% of a telco's operating expenses — a staggering disparity driven by geography, network architecture, and renewable energy adoption. Using Airtel and stc as contrasting case studies, this note shows exactly how that inequality plays out — and why it matters for every CSP's bottom line.

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