Recent research found that the price of energy paid by UK businesses has increased by as much as 58% since January 2010, with significant impact on the performance of many businesses – including those in the hospitality sector. Using less energy in your business has become ever-more important.
Now a survey of energy experts from 153 of the UK’s largest businesses finds that only 5% of respondents expect the UK’s energy prices to be less than its competitor economies in 2015, with 62% expecting them to be higher. This is due to a lack of investment in new generating capacity to replace decommissioned coal-fired power stations.
Andrew Raingold, Executive Director of the AG, commented:
“The rising costs of energy in the UK are a major concern for businesses and households. The corporate survey demonstrates that it is the price of fossil fuels, not green policies, that will have the biggest impact on rising bills. These findings are consistent with Government analysis which finds that recent energy bill increases are primarily due to increased wholesale gas costs.”
“The cheapest way to address this challenge is to reduce demand. There must be much more focus on incentivising consumers and businesses to use less energy rather than investing in expensive new supply.”
The survey was undertaken by Green Monday in partnership with the Aldersgate Group (AG). To find and read the full Energy strategy 2012 report click here