All three governments since the Millennium have failed to deliver secure and competitively-priced energy, according to a new survey.

A poll of more than 1,000 business leaders by the Institute of Directors (IoD) found that 70% of respondents thought that the Labour, coalition and Conservative governments had failed to make energy available at a reasonable cost.

Two-thirds expressed concerns over energy security.

The respondents were split on nuclear power, with 53% saying the construction of the Hinkley Point C station would make “strategic sense” but less than half thinking it provides value for money.

Too much emphasis on renewables

Dan Lewis, Senior Infrastructure Policy Adviser at the IoD, said: “Since the early 2000s, governments of all stripes have focussed on increasing use of renewable energy in order to reduce carbon emissions.

“Cutting carbon dioxide is overwhelmingly supported by business, but politicians have underplayed the other two crucial aims of energy policy, delivering secure and affordable power.

“Following the creation of the new business and energy department, now is the ideal moment for the UK Government to reconsider the direction of travel.”

> Read the IoD's announcement