Powered up or priced out?

The £250bn case for a national energy plan

coworkers looking at screens

Bringing UK electricity prices closer to G7 levels could unlock up to £250bn in additional economic output over the next decade.

The UK’s path to energy security and economic growth

A succession of shocks, from geopolitical instability to the breakdown of global supply chains, highlight the fragility of economic security and growth for countries heavily dependent on energy imports.

It shows how essential energy security is for resilience in our critical infrastructure and services. And to provide the foundation for growth in industries such as AI, advanced manufacturing and clean energies.

Yet since 2020 UK industrial electricity prices have been the most expensive in the G7. Our report shows how closing that price gap could unlock up to £250bn of additional economic output over the next decade.

That demands a practical and deliverable national energy plan which brings together supply, demand and the infrastructure needed, as well as the workforce and supply chain required to deliver at pace.

Explore our full report and the five imperatives for government, business and investors that are critical to powering the UK’s economic objectives.

+63%

Peak price gap for UK industrial electricity prices vs G7 peers in 2024

72%

of manufacturers say energy costs are a barrier to increasing investment

+£250bn

of additional economic output could be unlocked over the next decade by closing the price gap

30%

potential reduction in the UK’s annual £60bn business energy costs

Powered up or priced out?

The £250bn case for a national energy plan

(PDF of 1.97MB)

Contact us

Vicky Parker

Vicky Parker

Energy, Utilities and Resources Industry Leader, PwC United Kingdom

Tel: +44 (0)7483 336390

Matthew Alabaster

Matthew Alabaster

Energy, Utilities, Resources and Infrastructure Deals Leader, PwC United Kingdom

Tel: +44 (0)7866 727124

Follow us
Hide