Showcasing the Best of Welsh Business

Prepare for the Worst: Why Businesses are Improving Energy Resilience

SHARE
,

Energy resilience has become a top level business risk, but there are steps you can take to de-risk energy supply interruption.

Although energy resilience is seen as a top-four risk by businesses, nearly 75% of organisations are under-prepared for the growing threat of power supply interruption.

That’s according to the latest research by Centrica Business Solutions. Our survey of 1,500 businesses across different sectors examined their readiness for energy-related failure. We asked respondents about their ability to withstand and recover from deliberate attacks, accidents or natural incidents that threaten energy reliability and business continuity.

Our latest research findings capture the energy resilience progress of businesses – two years on from our original 2017 energy resilience research report. The new survey shows a rising awareness of the need to increase energy resilience. 34% now identify energy security as a risk – up from 28% in 2017. This is deemed the fourth biggest threat for the business leaders we surveyed – only narrowly overtaken by financial risk (35%); market  risks (36%) and cyber-crime (42%). The recent research also shows that while more businesses are making progress on the road to energy resilience, it’s the most advanced, sustainable businesses that are best prepared.  These organisations are also more ready to grow and innovate by having in place strategies for secure energy that enable them to maximise the competitive advantage of big data and to digitalise and automate their businesses.

Our new report, Future-Proofing Your Company’s Energy Needs, highlights rising awareness of resilience as an issue for organisations across the globe, and practical steps you can take to mitigate risk.