In its latest Survive & Thrive report, the Energy Industries Council (EIC) reveals that 78% of UK energy firms grew last year with revenues rising 16% on average.
Yet 77% of companies say incoherent government strategy is now their biggest barrier to further success.
“The UK’s supply chain is delivering growth but it’s doing so despite policy chaos,” said EIC CEO Stuart Broadley. “Without a 20-year vision we risk losing talent and investment to markets like the Middle East.”
One CEO put it more bluntly: “Get a grip – stop tweaking and messing around and start developing a proper strategy and be fast about it.”
The report, based on interviews with 140 global energy firms, found that skilled workers are eyeing exits amid disrespect, delays and uncertainty.
More than a quarter of respondents criticised government “short-termism” and 8% flagged delays in project approvals.
“There is supply chain fatigue working on projects that aren’t reaching FID,” one executive warned.
Despite the push for renewables, 57% of UK supply chain revenues still come from oil and gas.
Executives argue that vilifying hydrocarbons threatens the very funding that powers the energy transition.
“Don’t turn oil and gas off overnight. That’s not transition, it’s energy security suicide,” said one respondent.
Broadley warned that optimism may be short-lived: “If policy instability continues we’ll see cost-cutting and job losses by year-end.”
Firms called for a joined-up UK energy strategy covering grid, oil, gas, renewables and skills.
