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Energy Prices Still A Major Concern For UK Businesses
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- 3 minute read
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New research shows that energy prices and market volatility continues to be a key concern for businesses in the UK and globally. Although recent months have brought some market stability, many companies remain cautious due to the unpredictability of future prices and supply. This uncertainty is making it difficult for businesses to plan ahead or commit to long-term investments. As a result, energy is no longer just seen as a utility bill, but as a strategic factor in overall business resilience.
Strategy Becoming a Priority To Reduce Energy Prices
The research highlights that around 70% of companies now have a clear energy strategy in place. These strategies go beyond simple cost control – they focus on reducing carbon emissions, increasing energy efficiency, and meeting sustainability goals. Businesses are beginning to understand that a proactive energy plan can provide long-term cost savings and reduce exposure to energy prices rising from market shocks. With global pressures around climate and policy increasing, energy strategy is becoming a vital part of business decision-making.
Electrification Gaining Momentum
A key trend emerging from the study is the growing push toward electrification. Around two-thirds of businesses are prioritising a move away from fossil fuels in favour of electricity-powered systems. This includes upgrading to electric vehicles, switching to electric heating, and modernising production processes with cleaner technologies. While electrification promises long-term benefits, it also requires upfront investment, and many businesses are working to balance immediate costs with future returns.
Investment Plans Despite Barriers
Despite the challenges that come with this transition, nearly 70% of companies plan to increase spending on energy projects over the next three years. The most common roadblocks include high installation costs, unclear regulations, and limited infrastructure to support widespread electrification. However, many organisations see investment as unavoidable if they are to remain competitive and meet future environmental regulations. Forward-thinking businesses are now building energy planning into their broader financial strategy.
What Businesses Want from Energy Suppliers
Companies are also shifting their expectations when it comes to energy suppliers. Only a quarter of businesses still see their providers as traditional utility companies. Instead, nearly half now want their energy partners to act as advisors, offering guidance and support through the energy transition. This includes help with procurement, compliance, and access to cleaner or more flexible solutions. Businesses want relationships that add value—not just another bill to pay. Yet many suppliers continue to disappoint, with poor customer service, lack of communication, and limited support leaving businesses feeling let down and underserved.
Digital Tools and Smart Energy Solutions on the Rise
As energy systems become more complex, businesses are turning to technology for smarter energy management and a solution to rising energy prices. More than two-thirds of companies are exploring digital tools and AI-driven platforms to track energy usage, identify waste, and make informed decisions. These tools can offer real-time data, automated reporting, and performance insights that traditional systems simply can’t provide. With growing pressure to reduce emissions and control costs, smart energy solutions are quickly becoming essential.
How BP Consulting Can Help
At BP Consulting, we understand how volatile energy prices and markets can impact your operations. We use our industry knowledge and strong supplier relationships to secure competitive energy contracts that match your needs – not just the market average.
Beyond procurement, we carry out detailed energy audits to uncover inefficiencies that may be costing your business money. These insights can lead to reduced energy use, lower bills, and progress toward your sustainability goals. We also deliver complete energy solutions – from installing renewables to developing tailored strategies, setting up monitoring systems, and providing ongoing support. Our goal is to make your business more efficient, more sustainable, and better equipped to handle future energy challenges. Book a consultation today to get started.