UK directors think power prices will rise 10% in 2016

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Richard Croft/Creative Commons
Richard Croft/Creative Commons

Around two thirds of company directors surveyed by Mission Critical Power’ publisher Energyst Media believe that power prices will rise by around 10% in 2016.

That prediction follows a benign 2015 in which wholesale prices have largely trended down.

Early respondents* to the annual Director’s Report have indicated that they are equipped to deal with spikier prices as a result of tight margins and changes to the balancing and settlements regime.

Three quarters of respondents said they had a plan in place to reduce exposure to energy price or supply shocks, and most of those firms have an in house energy manager.

Big lighting spend

Virtually all of the early respondents said they planned to implement energy efficiency/demand reduction measures within the next 12 months. Three quarters of those directors plan to implement lighting. HVAC, building controls, onsite generation and behavioural change also figure in the plans of around 40% of respondents.

The survey, sent to 2,500 company directors, will form the basis of the 2016 Director’s Report, published early January. It also covers demand response, procurement, liquidity and asks directors to give their views of broker/TPI transparency and service.

Directors also give their views on what business taxes changes the treasury should make, and what they believe would help decarbonise the economy at lowest cost.

Take the survey

The survey takes 5-10 minutes to complete. All those that take part will receive a free copy of the report, which provides a valuable insight into the state of the market – from the market – and where businesses see the best bang for their buck.

Click here to take the survey.

*This article is based on initial findings from a low sample. Final figures may change significantly from full sample.

Related articles:

Free report: How businesses think demand side response must change

Free report: Financing Energy Efficiency – why are projects failing for lack of finance?

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