Businesses urged to invest in renewables
Energy prices fell by 4.8% during 2015, mainly due to a lower gas prices, according to the latest data from the Lorien Energy Index (LEI).
The data for the first and final quarters of 2015, which tracks the overall cost of energy for business users, shows prices declined by 7.7% compared to the same period in 2014.
Burton-based Lorien Engineering Solutions, which produces the Energy Index, said gas prices fell 22% in the final quarter of 2015 compared to the same period a year earlier. Electricity prices remained relatively static. The latest LEI graph includes a projected ‘best-fit line’ and linear projection looking forward.
When shown together, these lines demonstrate that while prices are low, there is an opportunity for companies to invest in energy efficiency, low carbon and renewable technologies. This can position organisations to deal with changing conditions and provide enhanced business resilience over the longer term.
Lorien’s sustainability consultant Tom Jordan said: “Organisations are seeing a changing landscape slowly unfolding. Business resilience efforts must now include planning for scenarios such as extreme weather disruption, changes to carbon taxes, tightening legislation and longer term uncertainty over base energy costs to the business.”
