Soaring green energy taxes could force UK companies abroad
The Department for Business, Innovation and Skills (BIS) has warned that rapidly rising green energy taxes could force companies in the UK to move abroad, leaving British industry uncompetitive, reveals energy saving technology provider EcoAdapt (http://www.ecoadapt.co.uk).
Climate change levels are resulting in soaring electricity bills for manufacturers in the UK, bills which are significantly higher than in other key nations around the world, according to the BIS report from government advisers. The report states that by the end of the decade, green energy taxes could be as much as double as those in other EU nations and “dozens of times higher” than those in the US. With companies under increasing pressure to reduce carbon emissions while at the same time striving to reduce electricity costs, industry groups are warning that the rate of energy taxes are “extremely worrying” and could force firms out of the UK.
The report from the BIS analysed the energy-intensive industries of iron and steel, aluminium, cement and chemicals in 11 countries. Climate policies dictate that firms in these industries in the UK will have to pay an extra £28.30 in energy taxes on top of the market price paid for every megawatt hour of electricity by 2020. This is compared to just £15.20 in France and £10 in China, for example.
This independent evidence indicates that UK manufacturers in energy-intensive industries are indeed paying more for electricity than most of their European and global competitors. Now it seems that finding ways to reduce electric costs is not just a way for firms to improve the bottom line, but in fact is essential if they are to maintain a competitive edge. One of the most significant ways these industries can achieve this is to address voltage regulation in their sites. To find out how leveraging voltage optimisation technology is the answer, go to the EcoAdapt website at http://www.ecoadapt.co.uk.
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