BIHK: "Red alert" because of high energy prices

Energy – Munich : BIHK: “red alert” because of high energy prices

Energy - Munich: The counter in a guest meter rotates. Photo: Jens Büttner/dpa/Symbolbild
The counter in a guest meter rotates. Photo: Jens Büttner/dpa/Symbolbild (Photo: dpa)

Directly from the dpa news channel

Munich (dpa/lby) – The rapidly rising energy prices will drive many Bavarian companies abroad, according to the fears of the Chamber of Industry and Commerce (BIHK). In the association’s annual energy transition barometer published on Thursday, 44 percent of the 500 Bavarian companies surveyed said that they were no longer competitive in Germany. In industry it was 63 percent. “Our business location is in great danger,” warned BIHK Managing Director Manfred Gößl in the message entitled “Red Alert”. De-industrialization is already underway.

According to the BIHK, the immediate consequence is that many companies freeze their investments: According to the survey, more than a quarter of Bavarian companies are no longer investing in maintaining their own core business for the time being. Almost a fifth stop investing in climate protection and 14 percent no longer spend money on research and development.

The companies were surveyed in June and July, so the results are not entirely up-to-date. In the meantime, however, energy prices have continued to rise.

© dpa-infocom, dpa:220922-99-857463/2

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