A survey by the Institute of Directors (IoD) has found that around seven in 10 business leaders (68%) believe that successive UK governments have failed to deliver competitively-priced energy.

Published on 19 August, the survey revealed that nearly two-thirds of directors (63%) also felt that governments had been unsuccessful in ensuring security of supply. By contrast, nearly six in 10 (59%) thought that governments had been successful in increasing the use of renewables, and approaching half (45%) believed that they had been effective in reducing carbon emissions.

IoD adviser Dan Lewis said businesses supported reducing emissions, but that governments had “underplayed” the other crucial aims of energy policy. Lewis added: “Cutting CO2 is overwhelmingly supported by business, but politicians have underplayed the other two crucial aims of energy policy, delivering secure and affordable power. Following the creation of the new business and energy department, now is the ideal moment for the Government to reconsider the direction of travel.”

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