A HIGH Wycombe business say they feel "sheer desperation" at the cost of their energy bill going up in October.

Blowplast, a plastic moulding company who make milk bottles said their annual electricity bill is set to increase "five fold" from £900,000 to £6million. 

The director says they've "never faced a crisis like this" since the company opened 20 years ago.

Bucks Free Press:

Kuldeep Singh, director of Blowpast, said: "This is the biggest issue I've seen in energy prices. Our annual electricity bill is set to go up to £6,000,000 on the 1st of October and we don't make that kind of money so the government need to pull their finger out and come up with a survival plan and focus on the industry. All they're offering is small business relief which doesn't even scrape the surface.

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"We create plastic mouldings for milk bottles all over England.We're facing an energy crisis and if the government don't take action 90 employees’ jobs could be effected directly or the consumer will have to pay the price."

Wycombe MP Steve Baker met with the business earlier this week and said the hike in energy bills will be a 'disaster' for them.

He said: "This is an international energy emergency which will have devastating consequences for businesses and households across the UK, Europe and the world. It follows not only the war in Ukraine but decades of ill thought through energy policy by all political parties against which I have been battling. 

"Ministers must act with extreme urgency and resolve to secure plentiful, inexpensive energy as fast as possible. We can only hope that the energy sector is able to respond swiftly enough to make a difference."

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The rise in energy bills will also see families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October – before rising again next year.

It is a forecast that will pile pressure on the Government to take rapid action, and spells out pain for more than 20 million households.

The regulator is set to announce the new price cap, which will come into effect from October, next Friday.

Based on Thursday’s gas prices, they think the price cap will hit £4,704 next January and £5,856 in April.

It will then fall but remain at stomach-churning levels, hitting £5,235 in July and £5,235 next October.