half of UK businesses think the country’s energy security is worse than it was five years ago and 96 per cent are concerned about how to afford their gas and electricity bills, according to a new survey from the Confederation of British Industry (CBI) today.
In a poll of more than 550 business leaders, 53 per cent blamed energy company profits for price rises, which the CBI said indicated a lack of trust in the market.
Just under half – 47 per cent – of business leaders interviewed think more competition is the best way to keep future bills down.
“Long-term certainty is needed but just as policies start to click into place, the political climate heats up again,” CBI deputy director-general Katja Hall will tell the business group’s energy conference today.
“One careless comment or populist proposal – whether we’re talking about cutting support for onshore wind farms or freezing energy prices – can make businesses feel like they’re right back at square one.
“For investors, this is a real worry. And when that investment can go anywhere in the world, it should be a real worry for politicians too.”