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Industrial Strategy – Have Your Say

The Government has assured us they will publish a long-term strategy to minimise business energy costs and launch a review into reducing the cost of decarbonisation, making it crucial that business energy users are heard to provide them with an informed view of how rising energy costs impact organisations across the UK.

The Department for Business, Energy & Industrial Strategy (BEIS) has launched a green paper, setting out how they intend to establish a long-term industrial strategy for the country, to boost productivity and economic growth and ‘provide a policy framework against which major public and private sector investment decisions can be made with confidence’.

One of the themes of the green paper is delivering affordable energy and clean growth: how to make a transition to a low-carbon economy in the most effective way, whilst keeping costs down for businesses.

The Government has promised to publish a long-term roadmap to minimise business energy costs this year, informed by this consultation and a review into reducing the cost of decarbonisation, making it crucial that business energy users are heard to provide Government with an informed view of how rising energy costs impact organisations across the UK.

You can find out more about what the industrial strategy has to say about energy and have your say by completing the below online survey, offering you a simple way to feed into the consultation.

Delivering affordable energy and clean growth

The Industrial Strategy is aiming to tackle three challenges:

  1. Minimising the cost of decarbonisation for businesses and households
  2. Creating a smart, resilient electricity grid able to cope with new and changing demands, from creating the infrastructure for electric vehicles to managing more energy storage.
  3. Making sure the UK economy benefits from the opportunities around new innovation and technologies.

Most importantly for business energy professionals, the acknowledgement that affordability is a high priority for Government is a big step forwards. The green paper acknowledges the impact of rising costs, particularly on energy intensive industries, where energy costs exceed 10% of total expenditure, often impacting competitiveness compared to European counterparts. It also acknowledges that the cost of subsidising energy intensive users includes £260million of compensation, funded by other consumers – so finding a more sustainable way of reducing overall costs is crucial.

A review is due to be commissioned to inform a long-term roadmap, setting out how Government plans to minimise business energy costs. This will look at:

  • How to support greater energy efficiency
  • The scope to use existing instruments to support further reductions in the cost of offshore wind
  • How Government can best work with Ofgem to make sure markets and networks operate as efficiently as possible.

 

The green paper also sets out a commitment to research and innovation in energy storage and other smart technologies. The Government is also hopeful that a smarter grid, supported by the roll-out of smart meters across all homes and businesses, will create greater flexibility in the system and reduce the cost of permanent ‘stand-by capacity’. Businesses are already supporting the balancing of the grid through demand side response – building on this will be crucial.

 

Complete our online survey before Wednesday 12th April to ‘Have Your Say’

Sustainable Energy First, has acquired Inenco.


The acquisition brings together two businesses with one common objective;
to make truly renewable
energy more accessible to businesses of all sizes helping them achieve their Net Zero targets.

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