UK PLC's £3bn energy overspend

British businesses have failed to adapt their energy buying processes to increasingly volatile oil, gas and power markets, and as a result overspent on energy by more than £3 billion last year, according to a survey. The poll of FTSE top 250 companies was conducted by Utilyx, a provider of energy price risk and consumption risk services, and Barclays Capital. The £3 billion figure is up from £1 billion in 2004.

The survey shows that 87% of industrial and commercial users secured their gas and

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