Forty-six percent of German firms polled by a business trade union said they were struggling to stay competitive because of high energy bills, a survey published Monday showed
BERLIN (Pakistan Point News / Sputnik - 22nd November, 2021) Forty-six percent of German firms polled by a business trade union said they were struggling to stay competitive because of high energy bills, a survey published Monday showed.
"A surge in electricity and gas costs has affected many companies," Peter Adrian, the president of the Association of German Chambers of Industry and Commerce, said.
The association surveyed some 600 German companies across a variety of sectors between October 18 and November 5. It found that the fuel crunch forced 14% of them to halt investment in core processes, 11% in climate protection, and 3% in R&D. A quarter of companies said the price hike had no effect on them.
Adrian said medium-sized companies, the backbone of Europe's largest economy, were the most affected, paying for electricity almost twice as much as their French rivals. He urged policy makers to take measures that would cap energy costs at a competitive level.
