As the cold chain sector prepares for significant increases in electricity costs from April 2026, we’ve been speaking to business leaders to find out what they would do to lessen the impact to UK industry.
“I wouldn’t wait two years to find a solution that will reduce the high energy costs that our industry faces,” says Rain Newton-Smith, Chief Executive of the CBI.
Rain’s referring to the government’s forthcoming Business Industrial Competitiveness (BIC) scheme, which plans to extend energy cost support to many more businesses from April 2027– although as yet, we do not know if any in the cold chain sector will be included.
Speaking at the same event, Emma Leach, Chief Economist at the Institute of Directors, is also in favour of taking action now to reduce the cost to business. “I would abolish the Energy Profits Levy while we are transitioning to net zero. It makes sense to make full use of the UK’s oil and gas resources,” she says.
The increase in electricity costs that consumers are facing is being driven by large rises in non-commodity costs – network charges, green policy levies, subsidies to fund new nuclear etc.
“While these are all legitimate expenses to support the UK’s drive to achieve 95% clean power by 2030, energy consumers are having to foot the sizeable cost via their energy invoices,” explains Stephen Evans, Industry Costing Manager at nBS.
“If I were Energy Minister, I would work to reduce these costs so that businesses can compete internationally and provide cheaper services – and therefore encourage economic growth.”
You can hear ideas from other participants at the CBI event in this round-up here.
