Industry reels as power bills soar

Power price rises of 90pc are hitting industrial customers as suppliers pass on the costs of dearer oil and gas.

E.on, the biggest supplier with almost 14,000 industrial customers has been settling new contracts at about 90pc.

A spokesman said last night: “We have no option given what’s been happening in the market but we’re trying to absorb some of the rises.”

Companies on year-long deals could see bills jump between 30pc and 60pc but businesses linked to three-year contracts are being warned they should be braced for a doubling in the size of their electricity outlay, according to Energyhelpline.com, brokers and comparators.

Telegraph