Senior UK executives are concerned that Britain is hurtling towards energy demand outstripping supply, according to findings of a new survey published by information and communications systems company T-Systems.
Carried out in co-operation with the Economist Intelligence Unit, the survey — 'Putting the brakes on power consumption' — reveals that over 80 per cent of directors and other senior executives from large organisations fear sharp energy price rises, with almost half expecting electricity shortages over the next five years.
Regardless of the current debate around the financial crisis, weak recovery and likely cuts to the UK’s transport infrastructure projects, 52 per cent of the business leaders surveyed warned that to ensure Britain’s competitiveness, the single aspect of the economy that the new government needs to prioritise is securing its energy supply.
“The research highlights that energy is now a major business risk for UK businesses," said Sam Kingston, managing director of TSystems in the UK. "In the near future, access to energy and its careful management will be as critical to business success as, for instance, access to capital and management of capital is today. This is a board level issue.
“Close collaboration between large energy users and energy providers will be key not simply in reducing energy consumption but in establishing a sustainable pattern of demand and supply for the future. Smart energy strategies at individual businesses as well as at the national level will need to be supported by advanced technologies that will ensure transparency of usage across the supply chain.”
Other findings of the report included:
• Micro-generation is becoming increasingly attractive, whether based on solar, wind, heat pumps or other technologies, with 42 per cent of respondents already having plans to implement a micro-generation scheme.
• Nearly three-quarters of respondents believe that nuclear energy will have to be the primary solution to the UK’s energy needs in the medium term.
• And nearly all (91 per cent) of executives polled agree that electricity suppliers should be required to promote energy use reduction through efficiency schemes.
