Energy price increases 'threat' to business

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A new survey has found British businesses are seriously concerned about rising gas and electricity prices.

The research, by RWE npower, found 300 companies listed energy prices as a top risk factor to their business.

The study was carried out after British Gas became the second major UK energy supplier to announce inflation-busting price hikes.

Only 66% of businesses interviewed said they had drawn up a strategy to manage energy bills.

Business gas and electricity use is unlikely to dwindle as the year progresses, even with double-digit price rises.

RWE npower found many companies had now prioritised generation of their own energy, with many major companies already pressing ahead with biomass, wind turbines and combined heat and power plants.

David Cockshot, from npower, said: "As demand on the grid starts to become a major issue, large energy users in particular will need to look at new ways to manage their energy more intelligently; whether through self generation or through demand management tools such as load management."

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