Action call on business energy bills

High business energy costs are holding back economic growth and threatening the UK’s global competitiveness, according to a new report.

The study by Energy UK and the CBI urges the Government to develop a national strategy to help British businesses which they said face some of the highest energy costs among developed economies.

Dhara Vyas, Chief Executive of Energy UK, said: “Energy costs are persistently above those faced by their counterparts in other countries, harm the competitiveness of UK businesses, prevent them investing in the future - including in the switch to clean energy - and can contribute to businesses having to cut back their operations.”

The two organisations are now working on a further report to examine how rising energy costs are influencing future investment decisions in the UK and assess funding models for essential energy infrastructure.

They will also explore how government can reshape energy policy to better support both key industrial sectors and the economy.