High energy prices threaten UK’s status as manufacturing power, business groups say

<p>CBI and Energy UK report finds 40% of firms have cut investment as electricity costs remain far above pre-Ukraine levels</p><ul><li><p><a href="https://www.theguardian.com/business/2026/feb/22/food-production-hike-in-energy-standing-charges-inflation">‘It’s a ticking timebomb’: food producers sound alarm on rise in energy charges</a></p></li></ul><p>The UK is at risk of losing its status as a major manufacturing centre after a sharp rise in energy prices that has forced about 40% of businesses to cut back investment, according to a report by the CBI and Energy UK.</p><p>In a stinging message to ministers, the report said British businesses – from chemical producers to pubs and restaurants – were being undermined by a failure to cap prices and upgrade the UK’s ageing gas and electricity networks.</p> <a href="https://www.theguardian.com/business/2026/feb/22/high-energy-prices-threaten-uks-status-as-manufacturing-power-business-groups-say">Continue reading...</a>