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Importance of energy strategy shown by latest survey

30 October 2017

Results from the latest survey on business energy use highlight the importance of establishing a resilience strategy to avoid damage and lost opportunities.

One of the most notable findings was that respondents are underestimating the potential losses causes by a serious energy failure, which can be up to 17% of annual revenue, according to The Resilience Report published by Centrica Business Solutions.

This figure was estimated by senior energy decision-makers who had not experienced a serious energy issue to be 7% of annual revenue.

Centrica said the response from those who had experienced energy blackouts, or even temporary brown outs, showed the actual figure to be 17%.

When applied to the average medium-sized company's turnover, this equates to £2.8m per annum, it said.

A total of 13% of businesses with good brand reputation are more likely to have an energy resilience strategy in place, with the same applying to 34% of those with strong financial performance.

While 88% of respondents said energy resilience is important, 58% said this is becoming critical for businesses.

However, just 16% of companies are making this a top priority, with only 18% stating they had a formal energy strategy in place.

More worryingly, 32% of business do not have any strategy in place.

Centrica UK director Alan Barlow said that while the importance of energy resilience was recognised by businesses, but how to create this was "less clear".

"What we know is that ignoring the risks can be very damaging," he continued.

"Without an energy resilience strategy, organisations can only be as successful as their energy supply allows," said Mr Barlow.

The company stated its survey involved the results of responses from more than 300 organisations across the UK and Ireland.

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