Earlier this year, we launched our second Business Energy Tracker. This revealed the views of 100 UK businesses on the impact of the energy market on their confidence, how they are protecting themselves from energy risk, their wishes for government policy and attitudes to net zero.
It was published at a time of huge energy market volatility and uncertainty, which was reflected in many of the concerns raised by businesses, particularly when it came to energy costs.
In December 2023, we launched a new version of the report - Business Energy Tracker: Energy, net zero and business survival: the crucial role of Third Party Intermediaries. Alongside businesses, it includes the views of more than 50 Third Party Intermediaries (TPIs), which were surveyed by respected publications The Energyst and Energy Live News, as well as three in-depth interviews, which were conducted via an independent research agency.
We work closely with TPIs across the country, and believe that, to get a full understanding of the perspective of business energy users, their views need to be taken into account.
TPIs are a vital part of the business energy landscape, and as such, provide valuable insight. Alongside energy suppliers, they work with business customers on a day-to-day basis, so see first-hand how they are approaching energy purchasing, as well as their attitudes to risk and their plans to invest in energy efficiency and sustainable technologies.
Therefore, this updated edition of the Business Energy Tracker represents a collective voice of business - both TPIs and businesses - on today’s key energy issues.
A major year for the energy industry
Without doubt, energy continues to be a hot topic and key concern for businesses. The past 12 months have seen multiple announcements, including government interventions such as the Energy Bill Relief Scheme (EBRS) and subsequent Energy Bills Discount Scheme (EBDS) to provide some support from rising wholesale energy costs.
There has also been the formation of a new government department - the Department for Energy Security and Net Zero (DESNZ) - and two new Secretaries of State, with Claire Coutinho replacing Grant Shapps at the end of August 2023.
When it comes to policy, the long-awaited Energy Act was published in October 2023. In addition, new measures announced in the recent Autumn Statement, included making full expensing permanent, a plan to speed up grid connections, £960 million for a new Green Industries Growth Accelerator, and the publication of a new consultation for a six-year Climate Change Agreement (CCA) scheme.
In short, there has been a considerable amount for businesses to deal with.
As the UK’s leading business energy supplier, we want to understand the concerns of businesses and represent their views on energy risk, policy and net zero to key stakeholders, including the government.
This new edition of the Business Energy Tracker reveals:
We have also spoken to independent analysts at Cornwall Insight for an exclusive view on the TPI market and how they believe TPIs will play a crucial role in supporting businesses during the short-term challenges and longer-term sustainability ambitions.
As we head into 2024, which will likely be a General Election year, the voice of business has never been more important. We are committed to working in partnership with both TPIs and businesses to make sure their voices are heard.
If you have any questions about how we work with TPIs, or want to find out more, please contact one of our team.