£7.3 billion bill increase looms for hospitality as energy support reduces
March 31, 2023
Analysis from UKHospitality shows that energy costs for the sector are set to be £12 billion higher than prior to the energy crisis.
With 1 April marking the introduction of the Energy Bill Discount Scheme, which greatly reduces the support available to business, the hospitality sector is facing costs of £7.3bn in increased energy bills. Without meaningful action to rein in some profiteering energy suppliers, the sector will no doubt see thousands of venues go out of business.
Almost half of UKHospitality members had been refused a quote by an energy supplier for the sole reason of operating within hospitality.
Energy costs show no sign of relenting, with costs now accounting for 11.4% of business turnover, up from 3.4% before the crisis.
£12bnEnergy costs for the sector are now £12bn higher than before the energy crisis
£7.3bnThe increase in energy costs for hospitality as a result of a significantly reduced energy support scheme.
41%Almost half of members had been refused a quote by an energy supplier for the sole reason of operating within hospitality.