Powerstar’s latest energy white paper looks at how businesses can protect themselves from a persistently volatile market through sustainable energy efficiency measures.
Every UK business has been impacted by the energy crisis, with insolvencies for UK businesses reaching their highest level since 2009, higher even than during the height of the coronavirus pandemic.
For those that have managed to navigate the crisis so far, 2023 is still set to present further challenges, with a reduction in the support available from April onwards and an unclear picture of where wholesale electricity and gas prices will go next.
Key messages
- While prices should level off from July, energy markets are still significantly elevated
- Energy volatility will only continue
- Energy efficiency significantly reduces exposure to volatile markets
- Lower consumption also improves sustainability and resilience while saving money
- Voltage Optimisation (VO) is the most effective technology for improving energy efficiency site-wide
Background
With falling wholesale prices set to finally impact on energy bills from July according to the latest forecasts, pressure from business energy costs should start to lessen from July onwards for the rest of the year, before the typical winter increase. Energy prices for winter 2023/24 are forecast lower than last winter, with businesses unlikely to receive any additional support throughout 2023 due to prices remaining below the Energy Price Guarantee.
Prices remain significantly elevated, and the long-term picture remains uncertain. UK energy prices are particularly vulnerable to volatile movement and our continued exposure to imported gas means that if there is another acute phase of global price rises, the UK will likely again rise quicker than elsewhere.
With some let-up on prices in the short to medium term, now is a good time to consider long-term energy strategy and how to better insulate your organisation from elevated and volatile markets. Better energy efficiency plays a key role in achieving that.
This paper looks at the role that Voltage Optimisation plays in improving energy efficiency, with reference to the VO calculator on Powerstar’s website to allow businesses to see how they can improve energy efficiency and unlock significant savings alongside better sustainability.
With prices still more than double those seen pre-pandemic, energy efficiency technologies offer a compelling return on investment.
Read the report
