Energy News – 21/01/2017
The week of Donald Trump’s inauguration has seen shaky energy markets, a landmark Brexit speech by Theresa M...Read More
The new Energy Bill aims to “increase energy security” and ensure “affordable and reliable energy for business”. What does this mean for UK SMEs?
As highlighted in the Queen’s Speech, the Government plans an Energy Bill to support the security of gas supply by strengthening the role of the Oil and Gas Authority (OGA). As an independent regulator, it will transfer responsibility from the Government giving consent for any large onshore wind farms in England and Wales to local planning authorities.
Measures to give the OGA regulatory powers should “maximise” the recovery of oil and gas from the UK’s dwindling reserves. Increased industry collaboration should help achieve needed cuts to costs and may make business energy cheaper and boost security of supply.
With energy prices a key cost for small businesses, many would argue that better collaboration and investment in the UK’s produced oil and gas is long overdue. The time it will take to for smaller businesses to realise these benefits is unclear.
Instead of waiting for the uncertain impact of the Energy Bill, businesses can make substantial savings on their energy bills by comparing business energy rates and switching supplier.
SwitchMyBusiness.com has already helped thousands of UK businesses slash energy bills by up to 70% with an average saving of £747. For more information, fill out the form at the top right of this page or talk to an impartial expert on 0800 411 8830.
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