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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Retail

John Lewis, Tesco and PwC switch off lights and heating to save energy costs

Companies are attempting to cut energy costs by lowering temperatures, dimming lights and even shutting offices

Companies have begun to cut energy usage to cut their bills this winter following warnings of power cuts and skyrocketing tariffs.

John Lewis Partnership, PwC and Tesco PLC (LSE:TSCO) are among the firms dimming lights, lowering temperatures and even shutting offices to combat rising costs.

Department store and Waitrose owner John Lewis will see heating turned down in its shops, where lights will also be dimmed for the first few hours of each weekday, after its energy bill was predicted to be £18mln over budget.

Energy and innovation manager, Neil Colman, separately said that rising costs had led it to accelerate its transition to net-zero emissions.

Tesco has also moved to reduce spending amid rising operating costs, suggesting temperatures have been reduced in some stores, while reviews of shopfloor operations were constantly being made in order to ensure maximum efficiency.

Meanwhile, PwC announced more radical measures to reduce bills, outlining its main offices in London are among sites across the UK that will shut from 23 December to 3 January.

Kevin Ellis, chief executive, suggested keeping buildings open over the period "doesn't make sense at a time of energy scarcity".

The accountancy firm has nineteen UK offices.

Electricity and gas has been discounted for businesses to £211/MWh and £75/MWh respectively, down significantly from the wholesale costs of roughly £600 and £180 according to the government, but companies still face rising costs.

With relief set to end on 31 March, concern has appeared over the devastating impact full-priced bills could have on businesses.

Breweries and pubs could face average losses of 20% according a recent report done on the behalf of the British Beer and Pub Association, raising fears that the ending of government support will see many shut their doors.

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