LONDON, June 22, 2010 /PRNewswire/ --
- Study Shows More Than 80% of Executives Expect British Fuel and Energy Prices Will Rise Sharply - Nearly 50% of Executives are Expecting Energy Supply Shortages in the UK Within the Next Five Years - Companies are Looking Towards Micro-Generation Amid Fears of High Prices and Uncertain Supply
Senior UK executives are concerned that Britain is hurtling towards energy demand outstripping supply, according to findings of a new survey published today by T-Systems. The research, carried out with the Economist Intelligence Unit, reveals that over 80% of directors and other senior executives from large organisations fear sharp energy price rises, and nearly 50% expect electricity shortages over the next five years.
Regardless of the current debate around the financial crisis, weak recovery and likely cuts to the UK's transport infrastructure projects, 52% of the business leaders surveyed warned that to ensure Britain's competitiveness, the single aspect of the economy that the new government needs to prioritise is securing its energy supply.
The research highlights that energy is now a major business risk for UK businesses. In the near future, access to energy and its careful management will be as critical to business success as, for instance, access to capital and management of capital is today. This is a board level issue. said Sam Kingston, the managing director of T-Systems in the UK.
Close collaboration between large energy users and energy providers will be key not simply in reducing energy consumption but in establishing a sustainable pattern of demand and supply for the future.
Among the report's other findings:
- Micro-generation is becoming increasingly attractive, whether based on solar, wind, heat pumps or other technologies. Although only 13% currently have such equipment, 42% already have plans to implement a micro-generation scheme. - Nearly three-quarters (73%) of respondents believe that nuclear energy will have to be the primary solution to the UK's energy needs in the medium term. - 90% of respondents already have a concrete energy efficiency goal for the year ahead, with most planning cuts of up to 10%. - Nearly all (91%) executives polled agree that electricity suppliers should be required to promote energy use reduction through efficiency schemes.
Full press release: http://www.kelsopr.com/t-systems-report-finds-energy-shortage-and-sharp-...
(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.)
Media contacts: Kelso Consulting (PR advisers) Tim Prizeman / Willard Foxton Tel: +44(0)20-7242-2272 Email: Ginniac@kelsopr.com
SOURCE: Kelso Consulting Ltd
CONTACT: Media contacts: Kelso Consulting (PR advisers), Tim Prizeman /Willard Foxton, Tel: +44(0)20-7242-2272, Email: Ginniac@kelsopr.com
Comments