The Resilience Report, which details the findings, is a result of a survey of more than 300 organisations across the UK and Ireland.
Responding to the survey, senior energy decision-makers who had not experienced a serious energy failure predicted the cost to their business would be 7% of their annual revenue. In reality, UK and Irish businesses impacted by blackouts or even very temporary ‘brown outs’ found the actual figure was much higher, estimated to be 17%. For the typical UK medium-sized business, this equates to £2.8m.