UK: Firms face record power bills

British industry is facing its worst-ever rise in energy prices in the run-up to the round of contract renewals this October.

Two-thirds of all industrial electricity contracts are up for renewal between now and October 1, but many firms have yet to put new contracts in place, according to energy brokers.

Price hikes of up to 40% are likely, said the energy broker Energyhelpline. Those coming out of three-year contracts will see their rates double. The broker predicts it will be “the worst ever contract-renewal season”.
Sunday Times