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Production output sinks below pre-Covid levels as electricity and gas sector declines

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UK energy prices have continued to surge after a fire yesterday knocked out a crucial power cable that can supply electricity to 1.4m homes.

Monthly production output in the UK dropped this summer, sitting at a level below the last pre-Covid level in February 2020.

Output sank 0.3 per cent between June and July 2022, coming in at 1.3 per cent below February 2020 levels, according to freshly published data from the Office for National Statistics (ONS).

The fall was driven by a decline in the electricity and gas production sector, which fell 3.4 per cent, alongside a 2.1 per cent fall in the water supply and sewerage sector.

More to follow…