Transcript: Vicky Parker on PwC UK Energy Survey 2024

Transcript

Hi I’m Vicky Parker

I lead PwC’s Power & Utilities practice in the UK.

I’m absolutely delighted to announce the launch of PwC’s UK Energy Survey

We have surveyed 750 businesses across various industries in the UK to understand two things

Firstly, how has energy price volatility impacted their businesses over the last two years and how has it affected the choices that they are making going forward?

Secondly, how has energy price volatility impacted their plans for decarbonisation?

Why now, and why is this important?

Let me give you three key takeaways from our report to answer that question:

• First, the impact of volatile energy prices is far from over. UK businesses are feeling the effects of high energy prices on their ability to compete both domestically and internationally.
• Second, UK businesses are at different stages of maturity. It’s very clear that there is no one size fits all out there. Managing volatile energy costs goes beyond the point of supply with businesses increasingly needing to look at ways to reduce demand to drive savings.
• Third, a lot has been said about cost and carbon. Balancing those priorities has consistently come through our survey as quite challenging for businesses to do.

You may have heard me talk about the energy challenge being a little bit like a Rubik’s Cube - and just like a Rubik’s Cube, you need to think about all of the different sides at the same time, including supply, demand, cost and carbon to name a few.

Download our report to find out more.