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lily

Encirc faces energy costs rise of up to 150%

Reported by lily | October 13th, 2021 @ 04:23 AM

Encirc faces energy costs rise of up to 150%

A company which operates a glass bottle factory in County Fermanagh has said it faces a rise in energy costs of up to 150% this year.

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Encirc has a plant in Derrylin and another operation in the north-west of England.

Adrian Curry, the firm's managing director, told the BBC that the firm typically spends £40m a year on energy.

But the spike in gas prices means that could hit £100m this year.

"There seems to be no cap to it and it's continuing to rise on an almost weekly basis," Mr Curry said.

"Generally we will have contracts for 12 months at a time, so we're having to look at what contracts are offering... how we can pass these price increases on and how can we can protect our business in that regard.

"Our businesses is not at risk, per se, but our profitability is being hit hard."

Encirc makes containers for the food and drink industry.

Its Derrylin plant is one of Northern Ireland's biggest industrial gas users.

High energy costs have been forcing manufacturers across the UK to warn of higher prices for their goods as they pass on increases to consumers.

Other firms have said they may be forced to shut down their factories if the rising cost of gas and electricity makes it uneconomic for them to produce their goods.

The BBC understands that the UK's Department for Business expects to get the prime minister's backing for a package to help energy-intensive industries.

On Monday, Business Secretary Kwasi Kwarteng asked the Treasury to support firms hit by rising energy costs.

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