Firms failing to budget for capacity market costs
Around half (48%) of the firms surveyed for a new report said that they had not budgeted for the impact of the capacity market charge on their electricity bills next winter. The Directors’ Energy Report, published on Friday 24 February by The Energyst, found that suppliers and TPIs could need to re-double their engagement efforts on the issue, or many companies could face “bill shock” over the next 12 months. The survey further showed that roughly half (53%) of the companies were considering demand-response activities, and this rose to nearly three quarters (73%) among those who spent more than £1mn/ year on energy. Just under half (49%) said they were considering switching water supplier when the market opened to competition in April.