The UK’s energy system is “broken” and climate change targets without detailed policies threaten to drive industry overseas, the head of one of the country’s most advanced glass manufacturers has warned.
British heavy industries from steel to chemicals have been severely affected by the energy crisis in recent months with glass producers, whose goods tend to be lower-margin, among the worst hit. Earlier in November power prices were rising again, renewing pressure on industrial groups.
Steve Keeton, managing director of the UK subsidiary of Nippon Electric Glass, a large Japanese special glass manufacturer, said that the surge in energy prices would almost wipe out its operating profit this year.
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