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News Release from: Bibby Financial Services | Subject: Winter energy shortage
Edited by the Buildingtalk Editorial
Team on 22 December 2005
UK SMEs should prepare for winter energy
shortage
Bibby Financial Services urges UK SMEs to prepare for winter energy shortage.
Leading provider of cash flow solutions to Britain's small business community, Bibby Financial Services, is urging small business owners and managers across the UK to put continuity plans in place to cope with the threat of a disruption in energy supplies this winter This year saw crude oil prices hit a 22-year high, due to an ever increasing demand coupled with shortage of supply
This article was originally published on Buildingtalk on 6 Apr 2005 at 8.00am (UK)
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Unfortunate events in 2005, such as a series of hurricanes in the oil producing regions, have served to highlight the vulnerability of our crude oil supply and, because it is a finite resource, few analysts expect prices to cycle back to previous low levels.
With the MET office predicting a colder than average winter, leading industry bodies, including the CBI, are concerned that small businesses across the UK are facing an energy shortage this winter.
Sir Digby Jones, head of the CBI, has raised concerns that if faced with a crisis, Britain only has 11 days of energy supply in storage, compared to those on the continent who typical have five times this in reserve.
David Robertson, chief executive of Bibby Financial Services, said: "Whichever side of the debate is proved correct - those who echo Sir Digby's sentiments and those who believe the energy crisis has little chance of becoming reality, the sensible business owner should make contingency plans now to cope with potential price increases and disruption to supply.
"By planning for the worst-case scenario, businesses have the best chance of ensuring they are protected should they face an energy shortage this winter.
Even a short power outage can cause serious disruption to the day to day running of a business, from its customer service through to its revenue and cash flow.".
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