UK businesses fear energy risks

Organisations in the UK rate energy supply and costs as a top risk factor to their business, reports Reuters.

This is according to a report entitled Energy Risk Management for UK Businesses, commissioned by nPower and conducted by the London School of Economics, says Green Technology World.

The report was revealed just 10 days after a second major British energy supplier enforced double-digit tariff increases.

However, research found that one in six major business energy users still do not have a policy in place to manage energy risk.

David Cockshott, director of Industrial and Commercial Markets at nPower, says many businesses do not believe that cost and supply are within their control. “However, there are ways businesses can mitigate their risk, including investing in self-generation or demand-management technology.”

Energy Efficiency News notes that the UK Coalition Government's changes to the Carbon Reduction Commitment efficiency scheme has curtailed businesses' energy efficiency plan, according to nPower.

nPower says around 72% of UK businesses have invested in energy efficiency measures since participating in this scheme, 62% have installed smart meters and 20% have taken on additional staff to manage the scheme.

Green Wise states the report reveals UK businesses expect the government to provide funding for green energy and energy efficiency solutions.

When asked who should finance investment in self-generation energy, 61% of businesses felt that the UK government should pick up the tab - just 18% believe it should be them paying for it.