Manufacturers have witnessed a fall in energy bills in the first three months of 2009, according to figures from BDO Stoy Hayward.
The consultancy firm's Quarterly Manufacturing Energy Tracker found that there had been declines in costs of electricity, natural gas and Brent Crude in the first quarter of 2009.
Costs of electricity during this period recorded a year-on-year fall of 25 per cent and a quarter-on-quarter decline of 34 per cent, reports the Manufacturer.
Natural gas was down 18 per cent over the year and Brent Crude had declined by 53 per cent compared to the same period in 2008.
Tom Lawton, head of manufacturing at BDO Stoy Hayward, told the news provider: "As manufacturers are some of most energy intensive businesses in the UK, this reduction in key energy costs should come as welcome relief to the recession-hit sector.
"With optimism levels in the sector at a 12-year low and the number of manufacturing businesses predicted to fail this year set to increase by 52 per cent, the fall in energy prices provides the sort of positive news manufacturers need."
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