UK businesses struggle with soaring energy costs

By Staff
3 Min Read

A recent report from Centrica Business Solutions reveals that more than half (56%) of UK businesses plan to increase their onsite energy generation capacity within the next two years.

The report, titled “How data, onsite generation and leadership strengthen energy control,” highlights the impact of unpredictable energy costs on business growth, with a third (34%) of businesses stating that these costs have limited their growth over the past year.

The research identifies mitigating energy market volatility as the primary motivation for onsite generation investment, with 40% of businesses citing this factor.

Other reasons include the desire to meet decarbonisation targets and transition to net zero (39%) and increasing profitability (38%).

Despite the environmental benefits of onsite generation, half of the businesses surveyed (50%) prioritise reducing energy costs over addressing their carbon footprint.

Additionally, more than a third (37%) of firms indicated they would not invest in onsite generation if it does not offer cost savings that can be reinvested elsewhere.

Christian Stella, Managing Director at Centrica Business Solutions Europe said: “Onsite generation is the next step in managing power consumption and costs more efficiently.

“It will play a vital role in steering firms through the market’s volatility as well as providing businesses with more control over their energy needs.

“While we’re still seeing businesses recognising the carbon benefits of generating their own power, money saving remains the top motivation for the majority of businesses.

“It is clear many firms still need the understanding and insight – particularly around commercial savings – to invest confidently in onsite energy generation.”

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