Our survey, conducted last week, yielded 503 responses, with almost half of the respondents stating that they won’t need to replace their gas appliances for the next 10-20 years.

Asking these businesses to change over appliances from gas to electricity will significantly impact their cost of doing business.

The February power outages in Victoria have also taken a heavy toll on business, with 73 per cent of survey respondents forced to close or significantly reduce their operations as a result.

Eighty-one per cent of respondents reported cost as the main barrier to switching from gas to electricity, with more than half of those surveyed saying they can’t move away from natural gas as their business processes rely on it and it cannot be transitioned to another energy source.

Also of concern, is 74 per cent of businesses surveyed report they are not planning financially to transition to cleaner energy sources. This could be for a number of reasons, but there is no doubt many businesses are already financially stretched and can’t take on another cost of such magnitude.

Seventy-one per cent believe to reduce the cost of gas, the State Government needs to unlock new Victorian gas supply.

Energy policies are the number one concern for Victorian businesses, followed by workforce and taxation.

• 86 per cent believe move to renewables will impact output
• 45 per cent won’t have to change gas appliances in next 10-20 years
• 68 per cent can’t currently switch to renewable gas
• 73 per cent forced to close or significantly reduce operations during February power outages
• 81 per cent cite cost as main barrier to switching from gas to electricity
• 74 per cent not financially planning to transition to cleaner energy sources
• 71 per cent want State Government to unlock new Victorian gas supply
• 52 per cent say a reduction in gas supply/ gas shortage will lead to reduced production
• 83 per cent report being pessimistic about current market conditions (15 per cent neutral, two per cent optimistic)
• 65 per cent reported energy policy as their biggest concern, followed by 64 per cent workforce and 53 per cent taxation

To be attributed to Victorian Chamber of Commerce and Industry Chief Executive Paul Guerra:

“These results, direct from our members, confirms the transition away from natural gas to other energy sources is the number one concern for Victorian businesses.”

“Businesses need access to affordable and reliable energy to continue to operate viably in Victoria and there is great concern that this is not guaranteed through the transition to net zero.”

“The business community supports the transition to net zero but is looking for the reassurance that a mix of energy sources will be available throughout the journey to get there. That requires us to collaborate openly with industry on strategy, planning and investment so we can accelerate our opportunity for Victoria.”

Media contact: Gemma Carter, media@victorianchamber.com.au