Energy, risk and the confidence crisis: Why listening to the voice of business is more crucial than ever

Energy, risk and the confidence crisis: Why listening to the voice of business is more crucial than ever

It is fair to say that the past two years have been challenging for UK businesses. We are emerging from significant upheaval into even more uncertainty - rising inflation, reduction in government pandemic support, and increased energy market volatility.

All of these things are having a major impact on business confidence, with investment decisions being delayed to help mitigate against the increased risk we are all facing.

It is also having a direct impact on business performance. The recent news that leading fertiliser manufacturer, CF Industries, has permanently closed a plant due to high gas costs should sound a warning shot to businesses and Government, particularly those companies in energy-intensive industries.

That is why it is more important than ever that the voice of business is heard at a time when Government is shaping policy around energy independence and net zero.

At nBS, we have a long track record of telling the business story when it comes to energy. While domestic energy issues grab the headlines, it is vital that the business view is heard too.

We need to ensure that businesses, as well as households, can survive the cost of living crisis as energy and other costs rise rapidly. Government support for households is obviously welcome, but support for hard-pressed businesses or public institutions has so far been scant.

That is why, on 23 June, we are launching a new report - the Business Energy Tracker - which has gathered the views of 200 large businesses and includes several in-depth interviews with senior representatives from both public and private organisations.

In it, we asked them about the impact of the energy crunch on their confidence to invest. whether net zero plans are on hold or going ahead, and - importantly - what governmental support businesses would like to see during these increasingly challenging times.

To mark the launch of Business Energy Tracker, we are hosting a virtual debate on 23 June at 10am, ‘The Energy Crunch and the Business Confidence Crisis’, where our panel of experts will discuss the findings from the research, and debate what needs to happen next in terms of governmental support.

The debate will be hosted by journalist, James Murray, Editor of BusinessGreen, and features an expert panel, including myself and:

  • Amie Jones, Senior Policy Adviser at the Confederation of British Industry (CBI)
  • Arjan Geveke, Director at the Energy Intensive Users Group (EIUG)

You can register your place here.

By registering, you will automatically receive a copy of the report, which is a must-read for any business energy user right now.

If you can’t make the debate, you can pre-register for your copy of the Business Energy Tracker here.

We look forward to hearing your views.

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