08 Jun 2022
Energy efficiency measures are 'missing piece' of tackling the cost-of-living crisis, says the Confederation of British Industry (CBI).
In a speech to business leaders CBI Director-General, Tony Danker, said people must not be left 'at the mercy of global oil and gas prices'.
According to the CBI, the best solution is to give people the tools to manage their demand via energy efficiency measures like home insulation.
The CBI points to research that shows retrofitting UK properties to improve energy efficiency could save households around £500 and cut energy costs for small and medium sized businesses by up to a quarter.
Tony Danker, CBI Director-General, said: 'People feel powerless, some are at breaking point. Their lives at the mercy of global storms that they and even their own government have little ability to control. While the government's recent support package will help ease some of the pressure, they're clear it's a temporary solution.
“Energy prices are likely to be higher for longer than we imagined. Reimagining the supply side to reduce our fossil fuel use further will take years not months. This is a long-term crisis that needs a long-term solution, but people need a fix now.
'Business and government must take this seriously. We must show decarbonisation is the solution, not the problem, or we'll lose that support. We must show now how it delivers lower bills, better jobs, and brighter economic prospects.'