Bloomberg: six of ten factories in Britain may close because of expensive electricity
Six of ten British factories could close because of rising electricity prices, Bloomberg writes.
Research by Make UK, a group representing British manufacturers, found that almost half of the companies complained of rising electricity bills. They have increased by more than 100 per cent in the past year.
“The current crisis confronts manufacturers with a stark choice of cutting production or shutting it down completely if they get no help,” the US publication said of the threat of factory closures.
At the same time, 13 per cent of factories have now reduced their opening hours, while seven per cent halt production for longer periods.
Earlier, the UK Gas and Electricity Markets Authority (Ofgem) press office said that electricity prices for average households in the UK would rise by 80 per cent from 1 October.
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