Majority of UK Businesses Preparing for Full Electrification by 2035

Key Points

• 90% of UK business executives expect their firms to electrify operations by 2035, according to a global survey.
• The Powering Up: Business perspectives on electrification report surveyed executives across 18 countries and highlights electrification as central to resilience, growth and competitiveness.
• 91% of respondents said electrification would boost energy security amid Middle East tensions and fossil fuel price rises.
• Energy security is the top perceived benefit: 35% of UK executives cited business-level security and 42% cited national economic security.
• 90% of UK respondents support grid upgrades; business leaders see investment in electricity grids as key to long-term affordability.
• Despite business momentum, nearly three-quarters of global executives believe government policies are not moving quickly enough.
• 60% of UK executives say their firms are electrifying faster than government is preparing the energy system.
• 51% of UK respondents feel national power systems are not keeping pace with industry electrification needs.
• More than half of global executives would consider relocating operations to countries with renewably powered grids if domestic transitions stall.
• UK business leaders asked for grants/subsidies, clearer long-term policy and faster grid connections from government.
• Maria Mendiluce (We Mean Business Coalition) and Bruce Douglas (Global Renewables Alliance) provided quoted commentary on urgency and the role of grids.

London (Britain Today News) June 15, 2026 – The majority of UK firms plan to electrify their operations within the next decade as executives rank electrification as essential for energy security, competitiveness and economic growth, but business leaders warn that government policy and grid investment are not keeping pace.

What did the survey find and how widespread is the view?

As reported in the Powering Up: Business perspectives on electrification report, a global survey of business executives across 18 countries found that 90% of UK business leaders expect their organisations to electrify their operations by 2035 at the latest. The research, produced by the We Mean Business Coalition in collaboration with E3G and the Global Renewables Alliance, places electrification at the centre of corporate strategy as firms respond to geopolitical risk and fossil fuel price volatility.

Why do business leaders see electrification as urgent?

According to the report, 91% of executives said electrification would improve energy security in the face of ongoing tensions in the Middle East and rising fossil fuel costs. Energy security was identified as the top perceived benefit: 35% of UK respondents highlighted improved energy security for individual businesses, and 42% pointed to stronger security for the national economy.

What are business leaders saying about the speed of the transition?

Maria Mendiluce, CEO of the We Mean Business Coalition, said:

“At a time of geopolitical instability and fossil fuel volatility, companies are not retreating from the transition — they are moving faster towards it.”

The survey shows a clear sense of urgency among executives, who reported that recent instability has accelerated their own electrification plans; 79% said the continuing unrest had made their electrification journey more urgent.

How do executives view the role of grid investment and broader energy spending?

The survey found overwhelming support for grid upgrades among UK respondents, with 90% backing investment in electricity grids to make energy more affordable in the long term. The research aligns with broader energy investment trends cited by analysts: the International Energy Agency projects global energy investment reaching $\mathrm{\$}3.4$$3.4 trillion in 2026, with roughly $\mathrm{\$}2.2$$2.2 trillion directed to grids, renewables, nuclear, efficiency and electrification-related technologies . The report notes that spending on power generation, grids and electrification is expected to approach $\mathrm{\$}1.6$$1.6 trillion in 2026, rising to about $\mathrm{\$}2$$2 trillion when end-use electrification is included .

Are policymakers matching industry ambition?

Despite the strong corporate commitment to electrification, the report highlights a growing frustration with government pace. Almost three-quarters of executives polled globally said government policies are not moving quickly enough. Specifically, 60% of UK business leaders believe their companies are electrifying faster than the Government is preparing the energy system, while 51% said the nation’s power systems were not keeping pace with industry needs.

What would businesses like governments to do?

Executives identified several priority areas where governments should act: grants or subsidies to support electrification costs, clearer long-term policy with national electrification timelines, lower electricity prices and faster grid connection processes. Bruce Douglas, CEO of the Global Renewables Alliance, stressed the centrality of grid modernisation:

“Businesses know which way the wind is blowing. This polling highlights that their competitiveness depends on how fast they can electrify with renewable energy. It is no surprise to see their top request to governments is to build and modernise grids facilitating access to cheap, secure electricity.”

Could companies move operations abroad if domestic policy lags?

The survey warns that inaction could drive investment away. More than half of executives worldwide said they would consider relocating operations to a country with a renewably powered grid if their own country did not transition within the next decade. In the UK specifically, 60% of business leaders suggested they would move the company if the Government did not offer sufficient electrification support.

How does electrification relate to competitiveness and economic growth?

The research shows a strong link between electrification and commercial performance. Business leaders widely agreed that switching to a renewables-based electricity system would help boost economic growth in their countries, and that electrifying operations would improve their firm’s competitiveness. These perceptions were consistent across both the UK sample and the global pool of respondents.

What are the main barriers to faster electrification identified by firms?

Beyond government policy and grid readiness, companies cited several practical obstacles: the cost of electrification investments, uncertainty over long-term policy frameworks, slow grid connection times, and concerns over electricity prices. Respondents called for clearer, long-dated signals from governments — including national electrification timelines — to help firms plan and finance large capital shifts.

How urgent is the timeline companies envisage?

Most executives who answered the survey view 2035 as the outer limit for electrifying operations. The expectation that most businesses will have switched to electricity-based systems by that date reflects accelerating corporate planning and capital allocation for clean energy, driven by both risk management and strategic opportunity.

What sectors or company sizes are leading the charge?

The report covers a broad cross-section of executive respondents and shows that interest in electrification is not limited to energy-intensive sectors. While heavy industry and transport-intensive firms face particularly complex technical challenges in electrification, the survey indicates wide interest across sectors because electrification touches production processes, logistics, heating and cooling, and product lifecycle emissions.

How is the private sector linking electrification and resilience?

Executives consistently emphasised that electrification is tied to resilience strategies. Faced with fluctuating fossil fuel prices and supply disruptions, firms see electrification — especially when paired with renewables and storage — as a route to more secure, predictable and potentially lower-cost energy over time.

Are investment flows following corporate intent?

The report’s findings mirror shifts in global capital allocation. Analysts expect energy investment to increasingly favour power systems and electrification: power-related spending is projected to account for an expanding share of total energy investment. That reallocation is visible in the rise of investments into grids, renewables and enabling infrastructure that businesses say they need to execute electrification plans.

What political and regulatory risks remain?

Respondents expressed concern that without clear, long-term government policies, businesses face unpredictable regulatory and market conditions that could deter investment. A lack of consistent national timelines, slow permitting and protracted grid connection processes were highlighted as impediments to firms’ electrification investments.

How do business leaders define success for electrification policy?

Executives set out several measures for successful policy: transparent multi-year plans for electrification, fiscal support mechanisms (grants or subsidies) to offset early costs, regulatory streamlining for grid connections, and measures to ensure affordable electricity prices as systems transition.
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What are the next steps businesses want to see from government and industry?

The report calls for a coordinated push from both policymakers and utilities to scale up grid infrastructure, streamline connection processes and provide clearer incentives. Business requests include funding support, long-term policy clarity and accelerated permitting — all designed to reduce capital risk and speed corporate shifts to electricity.

Maria Mendiluce, CEO of the We Mean Business Coalition, said:

“At a time of geopolitical instability and fossil fuel volatility, companies are not retreating from the transition — they are moving faster towards it.”

Bruce Douglas, CEO of the Global Renewables Alliance, added:

“Businesses know which way the wind is blowing. This polling highlights that their competitiveness depends on how fast they can electrify with renewable energy.”

How should government respond to these findings?

The message from the report to policymakers is clear: failure to accelerate grid investment, clarify long-term policy and reduce barriers to connection risks ceding leadership and investment to other countries. Businesses are signalling that electrification is now a commercial priority; governments that match that momentum can capture growth, jobs and energy security benefits.

What are the broader economic implications?

If electrification proceeds at the speed executives expect, countries that accelerate grid modernisation and renewable deployment stand to benefit from increased business investment, improved energy security and enhanced competitiveness. Conversely, countries that lag risk losing investment and seeing slower business growth.

Methodology and scope: who was surveyed?

The Powering Up report draws on polling of business executives across 18 countries. While the report presents global averages, the UK sample shows particularly strong support for grid investment and an acute concern that policy is lagging behind corporate plans.

What caveats should readers note?

Survey findings reflect executive perceptions and intentions, which are important indicators of likely corporate investment, but actual outcomes will depend on complex interactions between market forces, public policy, capital availability and technological progress. The 2035 timeline represents a consensus expectation among respondents, not a guaranteed outcome.

The combination of geopolitical instability, fossil fuel price volatility and the falling costs of renewables is reshaping corporate energy strategy. As firms increasingly view electrification as a route to resilience and competitiveness, governments face a choice: accelerate the enabling infrastructure and policy frameworks or risk losing investment and stability benefits to faster-moving competitors.