CEOs taking note of rising energy costs

Increasing energy prices are more businesses and their leaders considering efficiency measures, reveals poll from EEF and npower

A third of chief executives and managing directors responding to a survey by EEF and npower report that they have taken control of energy efficiency decisions in their businesses.

According to EEF and npower, the industrial price of gas has increased by 122% since 2002, while industrial electricity prices have risen by 94%. As a result, 96% of businesses surveyed cite reducing energy use and addressing cost as the main reasons for investing in energy efficiency.

However, nearly two-thirds of companies responding to the poll also report that reducing their carbon footprint is a reason for implementing or considering energy efficiency measures.

The poll reveals that, once company turnover exceeds £20 million, manufacturers turn to specialist energy buyers or managers for help, and that 20% of respondents are looking to suppliers for advice on energy savings and efficiency.

Two-thirds of those surveyed claim that payback periods are a key barrier to investing in energy efficiency.