Confidence and competitiveness: CBI report outlines opportunities for UK business energy

Anthony Ainsworth, COO for I&C at E.ON UK, responsible for npower Business Solutions (nBS), is part of the CBI and Energy UK’s ‘Cutting Business Energy Costs’ taskforce which has been helping to shape policies that would cut business energy costs, unlock investment, build confidence and business competitiveness  and accelerate the clean energy transition.  

Commenting on the taskforce’s report which was published today, Anthony Ainsworth said: “Businesses are the foundations for delivering a prosperous economy, but they require secure and competitive energy costs to invest and grow. UK energy costs are way out of kilter with the US, Europe and the Far East.

“As this CBI and Energy UK taskforce has identified, providing the basis for sustainably cutting business energy costs helps to make our economy more competitive while supporting long term investment, growth and job creation.

“Our latest Business Energy Tracker reflecting the needs of customers shows that for the fourth consecutive year, energy remains the top business risk, with 79% of businesses expecting their energy invoices to rise over the coming 12 months. Almost all of them – 97% – were concerned about rising costs from the low-carbon transition, with almost half (49%) anticipating non-commodity charges would increase by 25% or more.

“There is more we should be doing to reduce energy costs for businesses today whilst sticking with the principles of making new energy work for everyone. One such approach is removing policy costs off electricity bills and into general taxation which will provide a material benefit for all types of businesses.

“We must recognise the key role low-carbon technologies such as solar and battery alongside flexibility can play in and for businesses across the country – increasing our appetite for home-grown energy can only reduce our dependency on volatile global markets and imported power and gas which will not only cut bills but ensure more of the benefits of the energy transition feed directly into providing a competitive edge for UK businesses.”

The CBI and Energy UK taskforce brings together industry leaders and government officials from Department for Business and Trade, Department for Energy Security and Net Zero, and HM Treasury with a goal to build an evidence base for policy changes that reduce costs, drive investment,  competitiveness, and make new energy work for everyone across the economy.

Businesses can access npower Business Solutions’ Energy Cost Calculator to see in just 60 seconds how clean power could affect energy costs.