Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

British factories face risk of closure due to high electricity bills

  • By Al Mayadeen English
  • Source: Agencies
  • 3 Sep 2022 19:44
  • 3 Shares
3 Min Read

A research study led by MakeUK, the British Manufacturers Association, indicates that 6 out of 10 British manufacturers are at risk of closing due to soaring electricity bills, which have peaked at a 100% increase.

  • x
  • British factories facing risk of closure due to high electricity bills
    Rising electricity bills could lead to the closure of 6 out of 10 manufacturers in the UK. 

Bloomberg reported that 6 of 10 factories in the UK are facing closure due to soaring energy bills.

The agency quoted the results of research led by the British Manufacturers Association MakeUK, which found that nearly half of UK manufacturers have experienced a jump in electricity bills of more than 100% in the past year.

Gas comprises a crucial part of Britain's energy mix, with tens of millions of homes relying on gas-powered boilers for their heating. Starting January next year, average bills could top £5,000 according to some projections, as Ofgem updates the cap every three months rather than the previous norm of twice a year. 

Ofgem had also previously announced that the energy price cap will be raised by 80% starting October 1, and the average gas and electricity bill will be £3,549 a year. 

Probably the most important number to watch right now: the wholesale price of natural #gas (well off the peaks that prompted some of the scariest forecasts for UK #inflation, though still high)... #energycrisis

ps. you can track the data yourself here: https://t.co/1AxuOaG4C1 pic.twitter.com/uZsCKzWUZ4

— Julian Jessop 🇬🇧 🇺🇦 (@julianHjessop) September 2, 2022

A research conducted by IMF, the agency found that the energy crisis was affecting British family budgets more than any other country in Western Europe. 

The research also noted that compared to other European countries, Britain has a far wider disparity in the cost burdens placed on low-income and wealthy families. This was ascribed to the UK's high reliance on gas to create energy and heat houses during a period of surging gas costs. The IMF also notes that the UK has the least energy-efficient housing in Western Europe.

Related News

CNBC unveils strategic plan to revitalize Syria energy sector with US

Iran in talks with Gulf States to expand cross-border energy exchange

Read more: India becomes 5th largest economy, pushing the UK to 6th place

The UK economy contracted by 0.6 percent in June and decreased 0.1 percent between April and June, compared to a growth of 0.8 percent in the previous three months.

Christopher Dembik, head of macro analysis at Saxo Bank, said that “What Brexit has not done by itself, Brexit coupled with Covid and high inflation have succeeded in doing,” adding that “The UK economy is crushed.”

Health experts have also warned the government of a potential "humanitarian crisis" due to the sharp increase in energy prices.

The National Health Service, which brings together a number of public health organizations, said that “many people could face the awful choice between skipping meals to heat their homes and having to live in cold, damp, and very unpleasant conditions."

An NHS chief has warned last month that soaring energy costs will kill more than 10,000 people this winter; a situation the NHS Confederation referred to as a "humanitarian crisis".

The International Monetary Fund (IMF) has warned that the UK faces the slowest rate of growth in the G7 next year.

Read more: Gas futures in Europe top $3,500 per thousand cubic meters

  • UK
  • Electricity
  • Gas prices
  • Sanctions on Russia
  • gas
  • inflation

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS