Risks & Opportunities in the UK Energy Industry – 2013 and Beyond

Misra, Anandita (2013) Risks & Opportunities in the UK Energy Industry – 2013 and Beyond. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

The UK energy market is grappling from lack of competition. Insufficient customer service, old technology and out-dated billing practices are some of the issues that are affecting the UK customers who are finding it difficult to keep control of their energy bills. While significant reforms are needed to create a competitive market, the industry is moving towards a customer-centric model. Today’s customer demand transparency related to their energy consumption and guidance from their suppliers on ways to save on their energy bills.

In a struggling global economy, there are additional challenges on how to limit the green house gas emissions in order to keep average temperature rises below 2C. By 2020, UK is legally bound to get 15% of its total energy from renewables. In effect that means 30% of all electricity production by 2020 have got to be produced by renewables. This would result in consumers’ energy prices to go up significantly in order to pay for billions of pounds for the new power plants that UK needs to invest. Tougher regulations and increasing role of the UK government in energy reforms/laws will have significant impact on the changing nature of the energy market.

There is a huge opportunity to shake up the energy industry and make a positive difference for its stakeholders. However, there are risks as well, which shouldn’t be ignored. Although forecasting the future is risky, organisations that fail to look forward almost certainly would be left behind in a competitive market. It is widely believed that companies that anticipate and adapt to plausible challenges are agile and better placed in responding to uncertainties even if some of the anticipated risks do not come to pass.

This report presents a discussion on latest trends in the energy industry. Furthermore, a conceptual map is derived from the discussions to highlight future risks and opportunities for existing energy companies in the industry. Finally, recommendations on what could be done for seizing opportunities and mitigating risks are suggested to regulators/government and energy companies.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 17 Dec 2021 14:25
Last Modified: 21 Mar 2022 16:11
URI: http://eprints.nottingham.ac.uk/id/eprint/26740

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