In recent times, the UK government has found itself facing more and more pressure from big companies over their long-term energy plans. With a lack of clarity from the government, corporations are starting to look at other markets in the EU or US where future economics are easier to predict due to solidified energy plans. This could result in a large shift of investments away from the UK, meaning that potentially lucrative large-scale projects could be set up elsewhere - leaving Britain behind in terms of development.
Many large UK companies have expressed their disappointment in the current state of the country’s energy policy, claiming that it does not adequately provide for the businesses it represents. As emissions continue to rise and many sectors struggle in the wake of the energy crisis, there is a critical need for a consistent and flexible energy policy, one which allows large companies to thrive while also making sure that consumers receive value for money.
The current lack of investment outlined in government policy has denied businesses access to the support and guidance they need, leading to further uncertainty and suspicion around how decisions are being made. It is vital that the UK government reconsider its energy policy and provide businesses working under it with the resources needed to succeed.
With various countries in the European Union taking massive strides towards net-zero and energy efficiency targets, the UK runs the risk of losing out on its share of potential investments if it does not work now to create a clear plan of action. Companies need to see a tangible roadmap with commitments before they invest money into a country's infrastructure - without this clarity, the UK will find itself quickly becoming a less attractive option.
Other business issues due to the energy crisis.
Ofgem's recent announcement that they are looking into the energy issues non-domestic customers have faced since the energy crisis began has been widely welcomed. As many businesses have seen an increased cost in energy as a direct result of the crisis, this investigation is intended to identify any anti-competitive practices that may be occurring and leading to high prices for consumers. Businesses need reassurance that their electricity tariffs are fair and companies are following the proper procedure to ensure their own profitability. Whatever the outcome of Ofgem's investigation, it is integral that fair pricing strategies remain in place and that business owners can rest easy knowing they aren't being taken advantage of.
The energy crisis has had a huge impact on businesses in the UK and it is clear that energy plans need to be put into place as soon as possible for them to survive. The government must act now to create a comprehensive energy policy that takes into account the needs of businesses and consumers alike, or risk losing out on potential investments from other countries.
