British factories risk closing due to electricity prices

Bloomberg reported that 6 out of 10 factories in Britain may close due to rising electricity prices.

The agency cited the results of a study by Make UK, a British manufacturers association, that soaring electricity bills could lead to the closure of 6 out of 10 factories in the country.

The study found that about half of UK factories have increased their electricity bills by more than 100% in the past year.

British energy regulator Ofgem previously announced that maximum consumer electricity bills would be raised by 80% starting October 1 due to rising global energy prices.

Source: RIA Novosti

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