Guiding your business through the energy storm

One of the major concerns for businesses at the moment is the soaring cost of energy – and at Bondholder Spotlight, a panel of experts discussed what firms should be doing to lessen its impact.

Host Bev Wakefield, director of Vibrant Accountancy, was joined by Tom Erskine, business development director at Scenariio, which helps businesses save money on energy using smart technology and Graeme Cameron, chief executive of local manufacturer Pennine Healthcare.

Also joining them was Robert Buckley, head of relationship development at Cornwall Insight, an independent energy, research and consulting firm, which has carried out detailed research into the topic.

Cornwall Insight’s research into the economy and its future has made national headlines this year – and Mr Buckley was on hand to discuss his firm’s latest research, which looks at how firms can mitigate the impact of energy price hikes.

At the debate, Mr Buckley said: “We’re not expecting energy prices to come back down any time this decade. High energy prices are here to stay.

“The measures recently announced by the exchequer buy us some time until March 2023.

“Businesses should be looking at their contracts, work with their customers and set expectations.”

At the debate, Graeme explained how his company, which manufactures medical products in Derby for the NHS and exports to countries across the world, had implemented measures to reduce energy consumption.

He said: “It’s a real focus for us as a leadership team. We’ve introduced simple things like LED lighting, changed the behaviours of the workforce, introduced more home working and collaborated with external partners.

“It is not just to save money. In my industry, being Net Zero carries a lot of social value. If I was to offer a top tip it would be to make this issue front and centre of everything you do.”

Tom’s company, Scenariio, provides state-of-the-art technology and data analytics to help make buildings as efficient as possible, in many cases retro-fitting existing premises.

He said: “It is not just about environmental sustainability, but also business sustainability and social value.

“It’s no longer a nice-to-do thing that can be engineered out of projects.”

To read Cornwall Insight’s latest research visit here.