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Greg Jackson, founder and chief executive of Octopus Energy, said: “The spate of failures within the 29 companies that went bust last year was driven by gas prices roughly doubling.
“They are currently nine to 11 times higher than usual.”
“To put that in perspective, if this was beer, we’re talking about the wholesale price being £25 a pint.”
“The price per therm has gone from 60p to around £5 at the moment – and that is what is passing through to customers if we don’t do something.”
Beer-drinkers are well aware of the cost-of-living impact on the industry, with the most expensive pint in the country costing £8 in June.
But that figure could rise to £13.98 by 2025, a study from pension provider Penfold recently predicted.
Emma McClarkin, boss of the British Beer & Pub Association, said there is a “dangerous combination of issues putting intense pressure on businesses”.
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