Increasing concerns over the cost of energy have pushed energy management and infrastructure up the agenda of boardroom meetings in the last few months, as UK manufacturers are beginning to panic over rising energy costs which seem to be getting more out of control.
The Financial Times reports that almost nine in 10 businesses discuss energy matters at board level now, which is a significant increase compared to ten years ago. Manufacturers are panicking despite measures taken by
Chancellor George Osborne, who has frozen the carbon price floor for the rest of the decade. This price freeze – a freeze on the tax on electricity generated from fossil fuels – will help businesses stay afloat, with estimates suggesting that a mid-size business could save £50,000 annually from it. But this has done little to reassure businesses, who see no end to spiraling energy costs.
“Without further action to bring costs in line with our competitors, decisions taken by boards in future might not be just how to manage costs in the UK but where to put further investments.” said Gareth Stace, EEF head of climate and environment policy.
This news comes as The Daily Mail reports that gas costs homeowners three times more than energy suppliers pay for it. Business, it seems, is going good for energy suppliers — at the expense of customers.