UK's expensive energy making Britain less competitive and stunting growth, Currys boss warns

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The chief executive of Britain's largest electricals retailer has warned soaring energy costs are undermining the nation's economic prospects and placing businesses at a competitive disadvantage.Alex Baldock, who leads Currys, drew a stark comparison with American rival Best Buy during remarks at the Centre for Policy Studies' Margaret Thatcher Conference in London on September 1.He said: "In 1990, Currys was paying the same per kilowatt an hour for energy as Best Buy — we're now paying five times as much."The outgoing boss, who is stepping down after eight years leading the company, joined calls from business leaders raising concerns about the UK's competitiveness.

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TRENDING Stories Videos Your Say Electricity costs in the UK have steadily outpaced most EU countries and other major economies, with ongoing tensions in the Middle East expected to add further pressure.Greg Jackson, chief executive of Octopus Energy, also addressed the conference and delivered a critical assessment of...

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