Research looks at what UK companies are doing when it comes to energy resilience
- Published: Wednesday, 01 May 2019 08:55
According to a report from Centrica Business Solutions, energy resilience has become a top level business risk, but there are steps that businesses can take to de-risk energy supply interruption. The report presents the results of a survey of 1,500 businesses across different sectors examined their readiness for energy-related failure. Respondents were asked about their ability to withstand and recover from deliberate attacks, accidents or natural incidents that threaten energy reliability and business continuity.
The survey shows a rising awareness of the need to increase energy resilience. 34 percent now identify energy security as a risk – up from 28 percent in 2017. This is deemed the fourth biggest threat for the business leaders surveyed – only narrowly overtaken by financial risk (35 percent); market risks (36 percent) and cyber crime (42 percent).
Despite rising awareness of the issue, nearly 75 percent of companies report being under-prepared for the growing threat of power supply interruption.
The results of the survey are presented in ‘Future-Proofing Your Company’s Energy Needs’, which also provides guidance on what companies can do to get started on the road to energy resilience. Strategies include using real-time energy intelligence; battery storage; and on-site generation technologies.
The report says that awareness is growing about how battery technology may help companies in future, with many businesses anticipating enhanced resilience from battery technology, ‘in the form of approaches such as seamless transition from grid to backup supply, or improvement in business continuity’.