A recent report from the Confederation of British Industry (CBI) and Energy UK shows that high energy costs are lowering the competitiveness of UK businesses, limiting investment and slowing progress towards Net Zero goals.
‘Cutting Business Energy Costs: The case for action’ outlines how energy-intensive and manufacturing sectors are facing reduced competitiveness, business operations are under increasing pressure, and investment is frequently delayed or cancelled due to UK businesses facing much higher energy costs than their European counterparts.
“UK businesses face some of the highest electricity costs in the developed world, undermining competitiveness and driving up consumer prices. Energy costs are a key determinant of the UK’s global competitiveness. High non-domestic energy prices make British industries less attractive compared to international rivals, risking offshoring of production and weakening trade performance.” – Cutting Business Energy Costs: The case for action
Energy UK and the CBI produced this report to present these findings to central government, urging them to move past short-term crisis plans and implement a more robust national strategy, providing businesses with more clarity and confidence, as well as supporting more affordable and sustainable energy in the long term.
More findings and proposed solutions are to be published later this year. In the meantime, businesses should look to understand their energy usage in order to strategise their long-term goals and navigate short-term cost pressure. A great place to start is a Business Energy Audit.
As experts in business energy, we also recommend implementing a secure, future-proof Energy Strategy. Procure Smart has over a decade of experience working with businesses from sole traders to large multinationals on their energy strategies. From an annual “cheapest price” contract renewal to the design of full metering, consumption reporting and multi-site energy management, we can help your business build a smart energy strategy or deliver elements of one you’ve created yourself in a fast, transparent and results-driven manner.
Contact us today for free, no-obligation advice.
