Senior energy decision makers ‘in the dark about rising energy costs’

npower has created a new tool to help businesses predict and plan for the future

By Jonny Bairstow

Senior energy decision makers feel uninformed about the effect rising non-commodity charges may have on their business.

That’s according to npower Business Solutions, which surveyed 250 senior stakeholders in gas and power firms – 58% admitted they are either unaware or unsure about the possible impacts, while two-thirds expected their energy costs to increase in the next ten years.

Despite npower Business Solutions expecting the industry to see cost increases of more than 40% by 2028, this belief is echoed by only 13% of people that expected prices to rise.

The firm says energy bills are increasing due to compulsory non-commodity charges, which it suggests will continue to push up the price of energy in the future.

It has now launched a free online tool called the Cost Predictor, to help businesses predict and plan for the rising cost of energy using smart purchasing, demand management, energy efficiency and behavioural change.

Wayne Mitchell, Director of Markets & Innovation at npower Business Solutions, said: “There is a worrying knowledge gap among some energy managers in the UK when it comes to understanding the impact of non-commodity costs, which will hurt businesses if not planned for and managed carefully.”