Commenting on the introduction of the Energy Security Bill into Parliament, Anthony Ainsworth, COO at npower Business Solutions, says:
“This is the biggest reform of energy legislation in years, and clearly any measures to help the UK become more energy independent, less carbon intensive and more resilient in the medium to long term is a good thing.
“Businesses have been grappling with unprecedented cost rises due to the hugely volatile wholesale energy market which is having a major impact on their confidence. In fact, our recent Business Energy Tracker revealed that 77% of companies now see energy as their top risk. In it they were calling on Government to increase protection from the unpredictability of the wholesale energy costs through increased energy independence. So, in this way, the Energy Security Bill should help meet these needs.
“However, there is still a huge question mark – what provision is there to help businesses right now? We need to double down on action that can have an immediate impact, such as reducing energy demand through energy efficiency and electrifying heat and transport where possible.
“Businesses, as well as households, need support to survive. While Government support for households is welcome, support for hard-pressed businesses or public institutions is so far scant. Therefore, policy support for businesses needs to be a key priority in the next Autumn Budget.
“As the Bill passes through Parliament, we would hope to see more provision to help businesses address the short-term issues they are facing right now.”
