Piers Clark: We've been paying too little for energy in the past

The commercial director at Thames Water believes Britain has been paying “too little” for energy in the past. Speaking to ELN at the Energy Live 2013 conference, Piers Clark (pictured) […]

By Priyanka Shrestha

The commercial director at Thames Water believes Britain has been paying “too little” for energy in the past.

Speaking to ELN at the Energy Live 2013 conference, Piers Clark (pictured) said energy prices won’t be coming down as the nation have yet to pay the “full cost”.

He said: “I think energy prices are only ever going to go up and I actually think we’ve probably been paying too little in the past. We haven’t been paying the full cost of energy.”

Mr Clark said Thames Water plans to have an “integrated approach” for more self-generation in order to keep its costs down.

He added: “We spend £100 million a year on our energy needs and we generate around 20% of that internally and we’re obviously looking at how we can better manage our energy requirements going forward.”

A recent study found on-site energy generation could help UK businesses save around £33 billion and cut 350 million tonnes of carbon emissions by 2030.