Local firms are facing energy price rises of more than four times the previous rate and could soon start to fail without government help when bills land this winter, local business leaders say.
The Government energy regulator announced last week that it would raise the ‘energy price cap’ for households to £3,549 per year – an increase of 80 per cent – from October 1.
But the price cap only covers domestic customers, meaning businesses and other organisations in Tunbridge Wells are facing huge energy price hikes of over four times their previous bills when they renew fixed price contracts.
Alex Greig, owner of Fuggles Beer Café and vice chair of the RTW Business Improvement District (BID), surveyed local firms and found 95 per cent are unable to afford such hikes. He said: “I fixed my energy prices for three years around two-and-a-half years ago, so will need to renew in April. “I am looking at [paying] a tariff…
