By Mark Kleinman, City Editor
Britain's under-fire energy companies will hit back at their critics on Tuesday by arguing that it contributed more than £100bn to the UK economy last year as it calls for "an honest and open debate" about the industry's future.
Sky News has obtained details of a new study of the sector's industrial profile that will be launched at the annual conference of EnergyUK, the lobbying organisation.
According to people briefed on the report, called Powering The UK, the group will say that in 2013 the energy industry was responsible for £102bn of economic value, both directly and through its supply chain, and paid more than £3bn in taxes.
Some £24bn of the economic value figure was direct investment, an increase of £3bn on 2012, EnergyUK will say. The body will add that its £11.6bn of investment to secure electricity and gas supplies was more than either private sector investment in transport, or public sector investment in health or education.
The conference will come at a critical time for the industry, with fund managers warning that they may have to reconsider their investments amid growing political and public hostility.
Four of the six largest energy retailers have increased gas and electricity prices in recent weeks, blaming a combination of rising wholesale costs and Government-imposed green levies.
The resulting political row prompted Sam Laidlaw, chief executive of Centrica, the owner of British Gas, to forfeit his annual bonus for 2013.
Ed Miliband, the Labour leader, pledged to freeze prices for 20 months if the party wins the 2015 general election, a promise which has intensified the cost-of-living debate dominating Westminster politics.
In response, Ed Davey, the Liberal Democrat Energy Secretary, has vowed to force the major energy suppliers to establish a system allowing customers to switch providers within 24 hours.
At a meeting between ministers and the industry on Monday, companies are understood to have argued that while it would be feasible to reduce the current switching timetable from five weeks, reducing it to one day would be impossible because of a statutory two-week cooling-off period.
In her foreword to Powering The UK, which has been produced in conjunction with EY, the accountancy firm, Angela Knight, EnergyUK's chief executive, is expected to refer to ongoing "uncertainty about energy policy".
"The economic climate is still difficult with households and businesses increasingly concerned about rising prices," Mrs Knight will say.
"Energy costs are driven by a mix of world energy prices, investments to meet our climate change commitments and other policy and network charges that flow through onto the bill.
"UK electricity and gas prices remain lower than average in other European countries but affordability is now at the top of most people's agenda. Policymakers - and the industry - must take that into account in everything we do."
Pointedly, Tuesday's report will say that the energy industry continues to create new jobs, unlike other sectors including financial services.
Prior to her role at EnergyUK, Mrs Knight was chief executive of the British Bankers' Association.
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