A new CBI poll shows over half of business leaders think energy security is worse than five years ago. Short-term thinking is distorting the debate on our energy future, risking investment and opportunity.
And in a new CBI poll of over 550 business leaders and 2,300 households, businesses rate security of supply as a crucial energy objective for the UK, with 73% citing it as very important.
Over half of businesses (57%) also think the UK’s energy security is worse than it was five years ago, reflecting that capacity margins are likely to hit a low next winter.
Businesses and households are concerned about keeping energy bills affordable (96% of businesses and 94% of households rating this as important or very important). And both groups support the UK’s aim to tackle climate change (70% of businesses and 76% of households rating this as important or very important).
In a speech to the CBI Energy Conference, Katja Hall will say: “Long-term certainty is needed but just as policies start to click into place, the political climate heats up again. It feels like a game of snakes and ladders.
“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.”