UK’s biggest energy users ‘may put off net zero spending due to gas crisis’

12/01/2022 15:30
Aug - Energy bills Millions set to see big savings as price cap lowered.jpg

Eight in 10 of the UK’s biggest energy users have said they are worried by rapid rises in energy prices and many are worried it could put their environmental investments at risk.

Intensive energy users largely have plans to cut their carbon emissions, according to a new survey.

Energy giant Vattenfall said that 90% of the companies said they planned to invest more than 7% of their revenues on reaching net zero over the next half decade.

But more than a third said they are thinking about calling off some investments so they can deal with the gas price crisis.

The price of gas has multiplied several times compared to a year ago. It is due in part to high demand from China low wind speeds in Europe and restricted supply.

It is likely to cause energy bills to increase by around 50% for most British households from the beginning of April when the new price cap is set.

But the crisis is also hitting businesses around the world, especially those in sectors that burn a lot of gas, including manufacturers.

“Businesses across the UK are clearly alive to the need to tackle climate change and reach net zero,” said Vattenfall Networks managing director Stewart Dawson.

Read the full story here.

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