British businesses unable to forward plan due to Brexit concern, claims npower Business Solutions

Written by: Editorial staff | Published:
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Just under a third (28%) of decision-makers from businesses across Britain have said that Brexit remains their business’ biggest concern for the 12 months ahead. Over half (53%) of those business decision-makers cited unexpected costs to their business as the most common reason for this, closely followed by an inability to forward plan business activity (46%).

The research, carried out by YouGov on behalf of npower Business Solutions, also identified that, when looking at the energy trilemma – affordability, sustainability and security – British businesses prioritise cost as their lead concern. Just under half of respondents (47%) are reported to have said more affordable energy was the most important element of the three, compared to 19% for enhanced energy security and the same (19%) for a move to a low carbon economy.

When asked what they would like the incoming government to prioritise when it comes to energy policy, over a third (34%) are reported to have said decreasing business energy costs.

New approaches to energy management were also identified as areas businesses are said to want to see on the new government’s agenda. Some 15% said that increasing the value and/or opportunities for being flexible should be prioritised. This includes demand side response initiatives, where customers are incentivised financially to lower electricity use at peak times. An equal number (15%) also identified adapting the capacity market to deliver new generation capacity as an important focus for the incoming BEIS team.

“With Brexit still on the horizon, it is expected that businesses are looking to government for energy policy that supports their competitive position in the UK and Europe,” stated David Reed, head of npower Business Solutions.

While price, according to the survey, remains front of mind for businesses, the research showed that 30% of businesses were also looking to government to prioritise renewable energy over non-renewable energy.

"A balanced energy mix will remain an important aspect of future policy for businesses," added Reed.

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