A recent survey by PwC and Energy UK has provided some interesting feedback on how businesses manage their energy needs.
Over 500 UK businesses, ranging from the smallest energy consumers up to the largest industrial manufacturers, took part in the survey. Questions were asked on a diverse range of topics including: relationships with energy suppliers, energy investment choices, investment intentions, who businesses trust and the main factors driving these decisions.
It revealed that:
- 71% of businesses have an energy strategy in 2019, up from 65% in 2017 with 46% planning to invest in renewable generation.
- 53% of business energy strategies include an energy efficiency target.
- 57% of businesses plan to purchase at least one smart energy technology in the next 2 years.
- 33% of industrial businesses expect to be fully reliant on the grid for all their supply within five years.
- 25% of businesses last switched energy supplier because they were offered an innovative product or hardware.
The report stated that SMEs remained energy price focused and concerned about the effect of rising energy. Commercial users are bringing in a wider social and environmentally responsible outlook to their energy choices.
Steve Jennings, Leader of Industry – Energy, Utilities and Resources at PWC, said: “Only two years ago, energy price was the main game in town – but that’s certainly now always the case now. Suppliers – from traditional to disruptive, new entrants – will need to adapt their approaches as the fight for market share within the energy transformation heats up.”