OnGen shares knowledge on how businesses large and small can benefit from the transition to net zero with on-site renewables
The UK hosts the COP26 climate conference in Glasgow in November and leads the way in declaring its commitment to net zero greenhouse gas emissions by 2050. But what does this mean for British businesses?
Going green and profit maximisation were once considered mutually exclusive, but times have changed. It now makes complete financial sense to consider the options to satisfy power and heat requirements from renewable sources.
Rising wholesale energy costs
The cost of grid-supplied electricity and gas is increasing. This is because the cost of wholesale electricity and gas, bought by retail energy suppliers on forward contracts has doubled over the last 12 months, a staggering increase. These wholesale cost increases, coupled with double-digit non-commodity cost inflation (the costs of delivering the energy and the government’s levies) and price volatility are priced into the tariffs offered by the retail energy suppliers.
Factors driving these price increases are outside any organisation’s co
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