Almost a quarter of UK business leaders (23%) fear their company will not survive the financial year due to the current cost of living crisis, new research has revealed. Around one in ten (9%) said that if the situation doesn’t change, they’d expect to go out of business in the next five years. The figures […]
The energy price cap, which limits how much energy providers can increase their prices by, is set to rise by a further £800 in October, Ofgem has confirmed. Ofgem’s chief executive, Jonathan Brearley, said the cap is expected to increase to £2,800 a year, due to continued volatility in gas prices. This means that the typical […]
Ofgem has published a new consultation to look at whether the energy price cap should be updated quarterly rather than every six months. Ofgem says a more frequent price cap would reflect the most up to date and accurate energy prices and mean that when prices fall from the current record highs, customers would see […]
The 2022 Queen’s Speech, delivered by Prince Charles for the first time, revealed a new Energy Bill aimed at boosting energy security and renewable energy. In the speech, Prince Charles said: “My Ministers will bring forward an Energy Bill to deliver the transition to cheaper, cleaner, and more secure energy. This will build on the success […]
Enexus partners with Eden Reforestation Projects to mitigate climate change Enexus Energy has partnered with Eden Reforestation Projects to help fight climate change and alleviate poverty worldwide. What is Eden Reforestation Projects’ mission? The nonprofit organisation works with local communities to restore forests on a massive scale, thereby creating jobs, protecting ecosystems and helping to […]
More commercial energy providers exit the market as costs continue to rise. Scottish Power has announced that it is exiting the UK industrial and commercial energy markets. Owned by Spanish energy firm Iberdrola, they announced last month that they will stop selling energy to British industrial and commercial (I&C) customers. Why has Scottish Power stopped […]
The majority of SMEs in the UK don’t understand how common environmental terms such as ‘net zero’, ‘carbon neutral’ and ‘carbon footprint’ apply to their businesses, according to new research commissioned by the British Business Bank. The Opinium survey of 1,000 senior decision-makers in smaller businesses found more than half (54%) believe the language, terminology […]
Earlier this month, the Government published its long-awaited Energy Security Strategy in response to the ongoing energy crisis. The plan sets out how Great Britain will accelerate the deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term – which could see 95% of electricity by 2030 […]
The UK is currently experiencing soaring energy costs, with prices rising further from this month when industry regulator Ofgem increases the price cap on energy bills by 54%, and another significant rise is expected in October. Commercial energy providers will inevitably pass increasing energy costs onto their business customers, so what can SME firms do if […]
Chancellor Rishi Sunak’s latest Spring Statement has produced headline-grabbing announcements such as a cut to duty of 5p per litre on petrol and diesel. Although a cut to fuel will undoubtedly help many small business owners, he also announced two new business rates reliefs will be brought forward by a year to come into effect […]