UK’s biggest energy users warn gas price hike could hit net zero
Eight in 10 of the UK’s biggest energy users have said they are worried by rapid rises in energy prices and fear it could put their environmental investments at risk.
Most intensive energy users have plans to cut their carbon emissions, according to a new survey.
Energy giant Vattenfall said that 90 per cent of the companies said they planned to invest more than seven per cent 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 likely to cause energy bills to increase by around 50 per cent for most British households from April.
“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.
“But without the right investment… plans to switch to electric vehicles and increase their self-generation will have to be shelved.”
(Reporting by August Graham, PA)