Energy prices will cause ‘economic catastrophe’, warns energy specialist

Callum Thompson (managing director at Business Energy Claim)

A BUSINESS energy specialist has warned of an ‘economic catastrophe’ that will see countless businesses being forced to close, after reports that UK pubs are bracing for mass closures as energy costs soar.

Callum Thompson, managing director at Business Energy Claims, commented: “We are saddened to see the extent to which the hospitality sector is struggling with day-to-day operating costs. Ultimately, businesses are being faced with some stark decisions: pay exorbitant rates, or offer huge up-front deposits for their energy tariffs.”

“Every business is being affected by the ongoing rising prices, and are not protected by any price cap. SMEs across multiple sectors will not survive the winter if something isn’t done urgently.”

“SME business owners have to fuel their own homes as well so are being hit twice by the energy price rises. The impact this will have on economic and social conditions across the whole country will be nothing short of catastrophic if something isn’t done. It’s literally a threat to both lives and livelihoods.”

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