Bloomberg: 60% of factories in the UK may close due to rising electricity prices
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Due to rising electricity prices, 6 out of 10 factories in the UK may suspend work, reports Bloomberg with reference to the federation of British manufacturers MakeUK. According to the organization, the current decline in the manufacturing sector may worsen in the future if the government does not take measures to support enterprises.
“The current crisis is putting businesses in front of a stark choice… Curtail production or shut down the shop altogether if help doesn’t arrive soon,” the agency cited the findings from the MakeUK report.
Last week the UK Gas and Electricity Markets Authority announced on raising the limit of electricity and gas bills by 80% for households. In the first quarter of 2023, the maximum bill amount will continue to rise to reach £5.34k per annum by mid-year (compared to the current £1.97k), according to forecasts by consultancy Cornwall Insight.
On the rise in energy prices in Europe – in the material “Kommersant” “Gas prices seek new limits”.
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