Andrew Whitehead, Senior Partner & Head of Energy - Shakespeare Martineau LLP
How Can Businesses Manage Ever Increasing Costs Whilst ‘Going Green’ At The Same Time?
These are difficult times for many businesses.
In the UK, a variety of factors are creating a ‘cost of doing business’ crisis, and that is being fuelled right now by sky high energy prices. This is a global phenomenon, in large part created by Russia’s invasion of Ukraine, which has resulted in the constraining of gas supplies into Europe and a corresponding increase in not only wholesale gas but also electricity prices.
With a consequent rush to find a replacement for Russian gas, concerns have inevitably also focussed on security of supply and the risk of blackouts. This in turn has put cross border ‘solidarity mechanisms’ under strain, and has exposed supply vulnerabilities around global markets for key commodities such as LNG.
At a time of rising interest rates and upward pressure on materia...