UK energy businesses ‘most concerned about Brexit’

The biggest concern for Britain’s energy businesses in the next year is leaving the EU. According to new data from npower Business Solutions, 28% of corporate decision makers said Brexit is […]

By Jonny Bairstow

The biggest concern for Britain’s energy businesses in the next year is leaving the EU.

According to new data from npower Business Solutions, 28% of corporate decision makers said Brexit is their largest concern, with 53% citing unexpected costs to their business as the most common reason for this, closely followed by an inability to forward plan business activity (46%).

It also shows 47% of firms prioritise cost as their main concern, above security of supply (19%) and sustainability (19%).

More than a third said they want the incoming government to concentrate on decreasing business energy costs.

Around 15% added increasing the opportunities for being flexible should be prioritised, such as demand side response initiatives, where customers are incentivised financially to lower electricity use at peak times.

An equal number also identified adapting the Capacity Market to deliver new generation capacity as an important focus for the incoming BEIS team.

David Reed, Head of npower Business Solutions, said: “With Brexit still on the horizon, it is expected that businesses are looking to government for energy policy that supports their competitive position in the UK and Europe.

“Lower business energy costs means one less thing to worry about in our current environment.”