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Bloomberg New Energy Finance

Energy management bosses in favour of ‘in’ vote…

The ‘UK Energy Efficiency Trends’ report conducted by the energy efficiency performance and analysis provider, EEVS, demonstrates an overriding support to remain within the EU from the energy management sector, as both suppliers and consumers have shown to be particularly concerned that energy prices would rise if the referendum (June 23) results in a Brexit vote.

In partnership with Bloomberg New Energy Finance, the research found that the majority of suppliers are overwhelmingly in support of an ‘in’ vote; with 79 per cent claiming that staying in the EU will benefit the industry more, 14 per cent are undecided and 7 per cent are opting for the ‘out’ vote. However, even though final results are still high consumer respondents were less certain, with 64 per cent voting ‘in’, 30 per cent undecided, and just 6 per cent opting for ‘out’.

Director at EEVS, Ian Jeffries, commented:From this research we see that the UK energy management sector has planted itself firmly in the ‘remain’ camp on the Brexit debate. As well as an expectation that ‘leave’ would drive up the capital cost of energy saving technologies for consumers and lead to higher energy prices for all, both suppliers and consumers were fearful that the UK government’s poor record on energy efficiency would see well-established and popular EU policies that support energy efficiency, such as energy performance certificates in buildings, being scrapped to the detriment of the sector.”

When asked about the potential impacts of a Brexit vote, 57 per cent of supplier respondents said that they would expect UK energy prices to increase, as well as 42 per cent of consumer respondents also anticipated energy price rises.

Download the full report here